Following the meeting on May 7, the Reserve Bank of Australia did not change the base interest rate, leaving it at a record low level of 1.5% per annum. Analysts had expected easing of the monetary policy of the Australian Central Bank amid weak inflation and slowing economic growth. There are bets in the financial markets that the regulator will reduce the rate two times until the end of the year, which has remained unchanged since 2016. The report of the Reserve Bank of Australia indicates the need to take measures to achieve inflation by a target value of 2-3%, among which are the improvement of the labor market and the reduction of unemployment. The head of the Australian Central Bank, Philip Lowe, expects that this year unemployment will remain at the current level of 5% and then fall to 4.75%. After the publication of the decision of the Central Bank, the Australian dollar rose by 0.8%.
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 ...
The Securities and Exchange Commission (SEC) announced on Monday that UBS Financial Services Inc. (UBSG) would pay more than $10 Million to resolve charges regarding certain municipal bond offerings. UBS has agreed to pay the fine after SEC ...
Major Japanese banks saw record demand for the corporate loans that were offered since April as the COVID-19 pandemic continues to have companies rushing in to build up cash reserves, according to a central bank survey on Friday. The figures ...