For the first time in almost 3 years, the base interest rate was reduced by the Reserve Bank of Australia by 0.25 percentage points to 1.25% per annum, which is a record low. This decision of the Australian regulator was aimed at stimulating employment growth. It also, in its opinion, is a guarantee of maintaining inflation at the medium-term target level. Some analysts predict that the Central Bank of Australia may reduce the base rate to 0.5% by mid-2020. The regulator expects inflation to accelerate in the near future, despite the low inflationary pressure on the economy. The Central Bank also notes the likelihood of a slowdown in the global economy amid heightened risks associated with the intensification of trade wars.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
On Monday, the Australian Competition and Consumer Commission (ACCC) filed a case against Google (GOOGL) in federal court after allegations that the multinational technology company misled its consumers about the expanded use of their personal ...