Interest rates left unchanged by RBA at 4.5%
Interest rates in Australia remain unchanged by the Reserve Bank of Australia at 4.5 percent after earlier expectations that the RBA would increase official interest rates 25 basis points to 4.75 percent.
Economy
Interest rates in Australia remain unchanged by the Reserve Bank of Australia at 4.5 percent after earlier expectations that the RBA would increase official interest rates 25 basis points to 4.75 percent.
Australian businesses expect a strong December quarter, with Christmas trading to bring the growth many businesses have been waiting for, according to the latest Dun and Bradstreet Business Expectations Survey.
Australia’s services sector is contracting at an ever increasing pace as the Reserve Bank of Australia uses a blunt tool, interest rates, to slow down inflation from Australia’s rampaging resource sector.
Australian interest rates are set to increase again by 25 basis points when the Reserve Bank of Australia board meets today, taking official interest rates to 4.75 percent.
Cairns Airport has been redeveloped and opened ahead of schedule and was opened by Deputy Premier Paul Lucas today on the back of the launch of Tourism Queensland’s new international brand, ‘Queensland, Where Australia Shines’.
The Australian dollar is trading at a two year high against the US dollar, hitting US96.08c during early trade this morning.
Business signatories to the UN Global Compact (UNGC) such as Rio Tinto, KPMG and Pacific Hydro joined UN Director (DPI), Eric Falt and CEO of World Vision, the Rev Tim Costello in endorsing business and industry playing a more inclusive role when it comes to finding solutions for some of the key challenges of our time, at a forum in Melbourne last week.
Australia’s unemployment rate decreased 0.2 percentage points to 5.1 percent (seasonally adjusted) in August, the Australian Bureau of Statistics announced today.
The Reserve Bank of Australia (RBA) made the right decision to keep interest rates on hold at it’s September board meeting yesterday, says the Housing Industry Association (HIA).
Australia’s construction industry continues to contract, with the latest AiG/HIA Australian Performance of Construction index at 43.2 for the month of August.
Job ads in Australia are up 36.1 percent in the year to August, with the latest ANZ Job Advertisements Series data showing the total number of jobs advertised up to an average of 176,239 per week (seasonally adjusted).
Australia’s mining industry is driving an increase in job advertisements in the past six months, with job ads in the sector up almost 30 percent in the industry.
Qantas appears likely to stop flying into Argentina’s capital Buenos Aires in favor of Brazil’s booming resource economy with flights to either Sao Paulo or Rio de Janiero.
In the latest Dun and Bradstreet Business Expectations survey finds the confidence of Australia’s executives on the way up, with expectations for five of six key indicators of business strength rising significantly.
New car sales in Australia are on track to reach record numbers, with VFACTS data from the Federal Chamber of Automotive Industries showing that vehicle sales are on track to hit 1 million this year.v
The performance of the Australian services sector continues to be uninspiring, with political uncertainty surrounding Australia’s hung parliament impacting on demand in August.
Western Australian Premier Colin Barnett’s compulsory acquisition of land in the Kimberley region for a $30 billion gas project for Woodside Petroleum has angered the Kimberly Land Council after negotiations over the land stalled.
Wayne Swan claims Labor is responsible for the 3.3 percent growth in Gross Domestic Product in the National Accounts data released by the ABS today.
Dun & Bradstreet Corp has bought the privately held Dun & Bradstreet Australia Holdings Ltd in a deal worth $233 million ($AU).
The Australian economy grew by 1.2 percent in the June quarter, with growth through the year to June at 3.3 percent in figures released today by the ABS, placing pressure on the RBA to increase interest rates before the end of the year.