The disruptions from Omicron caused a contraction in the construction industry during the summer holidays, reversing the November recovery, according to the Australian Performance of Construction Index. The index fell 11.1 points to 45.9 in December and January, where readings below 50 indicate a contraction in activity, with lower results meaning a faster contraction. The…
Australian Construction Activity Across Summer Suppressed by Omicron
February 2, 2022
admin
AustraliaAustralian Bureau of Statisticsaustralian housingAustralian Industry GroupReserve Bank of AustraliaWorld
0 Comment
Australian Prime Minister Forecasts Unemployment Rate to Dip Below 4 Percent in 2022
February 2, 2022
admin
AustraliaAustralia Unemployment RateAustralian Prime Minister Scott MorrisonBusiness & EconomyReserve Bank of AustraliaWorld
0 Comment
Australian Prime Minister Scott Morrison has said he anticipates that the unemployment rate will dip below four percent this year. The jobless rate dropped to 4.2 percent last December, the lowest on record for 13 years. “I believe we can now achieve an unemployment rate with a ‘three’ in front of it this year,” the…
Australians Need to Be Prepared for When Interest Rates Go Up: RBA Governor
February 2, 2022
admin
AustraliaAustralian economyBusiness & Economyeconomyinflationphilip loweReserve Bank of AustraliaScott MorrisonWorld
0 Comment
Philip Lowe, governor of the Reserve Bank of Australia (RBA), has advised Australians to have a mortgage payment buffer for when interest rates inevitably rise. “Interest rates will go up. We need to be prepared for that, and people need to have buffers,” Lowe told the National Press Club on Wednesday in response to a…
Australian Cash Rate Remains Unchanged Amid Backdrop of Rising Inflation
February 1, 2022
admin
AustraliaAustralian Cash rateBusiness & Economyeconomic policiesinflationReserve Bank of Australiawages growthWorld
0 Comment
The Reserve Bank of Australia (RBA) has decided to maintain the cash rate at 0.1 percent and end its bond purchase program on Feb. 10 at the first board meeting of 2022. “As the Board has stated previously, it will not increase the cash rate until actual inflation is sustainably within the 2 to 3…
‘This Was Coming’: Former State Leader Lambasts Wrong Messaging on Surging Inflation
January 30, 2022
admin
AustraliaBusiness & EconomyCampbell NewmaneconomyinflationInternationalReserve Bank of AustraliaU.S. Federal ReserveUS Federal ReserveWorld
0 Comment
Former Queensland premier and now-Senate candidate Campbell Newman said it was no surprise that Australia’s official inflation rate released last week was at 3.5 percent and warned lower-to-middle income households would bear the brunt of the increased cost of living. “This was coming. It was quite apparent in February-March last year. The U.S. Federal Reserve…
Broadly Optimistic Outlook for Investors in 2022: ANZ
Investors can maintain a broadly optimistic outlook for 2022, but in its Market Outlook report, ANZ warns that further double-digit returns in equity, as was seen in 2021, would be unlikely. “Rather, 2022 commences with a mild overweight to risk assets based on cautious optimism and a belief that, despite more moderate returns, equities should…
Shares Stumble on ASX as High Inflation Worries Investors
Shares took the second sharpest nosedive of the year on the ASX when higher than expected inflation data intensified fears that the Reserve Bank of Australia would push up interest rates. The market exacerbated early losses on Jan. 25 after the December quarter data showed the annual inflation rate increased to 3.5 percent. This higher…
Australian Inflation Exceeds Expectations, Increases Pressure on Rate Hike
January 24, 2022
admin
AbsAustraliaAustralian Bureau of StatisticsAustralian economyinflationReserve Bank of AustraliaWorld
0 Comment
Australia’s annual inflation rate has smashed market expectations, rising 3.5 percent in 2021, according to new data from the Australian Bureau of Statistics (ABS). The underlying inflation rate also jumped to its highest level since 2014, at 2.6 percent, reflecting the broad level of price increases. The annual CPI (consumer price index) inflation jumped on…
Australian CEOs Expecting Fresh Disruptions in 2022 but Cautiously Optimistic: Survey
January 21, 2022
admin
AustraliaAustralian businessAustralian Industry GroupAustralian supply chainCCP VirusReserve Bank of Australiaskill shortageWorld
0 Comment
The Australian Industry Group (Ai Group), the peak group representing national employers, has revealed that business leaders are cautiously hopeful for 2022 despite the seriousness of the anticipated disruptions. The report for Australian CEOs expectations was based on a survey conducted across Australia in October 2021, which received 346 responses from CEOs of businesses that…
Possibility of an Official Australian Digital Currency in the Future: RBA
December 8, 2021
admin
AustraliaBusiness & Economycryptocurrencydigital currencydigital walletphilip loweReserve Bank of AustraliaWorld
0 Comment
Philip Lowe, governor of the Reserve Bank of Australia (RBA), has flagged the possibility of a central bank-backed form of digital currency in the future and welcomed the federal government announcement to overhaul the payments system. In an address to the Australian Payments Network Summit on Dec. 9, Lowe discussed the rising popularity of electronic…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`