The Australian Bureau of Statistics has released data on the country’s gross domestic product GDP. The economic growth It has been confirmed as follows: Real GDP in the first quarter: + 1.8% quarter-on-quarter, s / adj (forecast + 1.5%). Real GDP in the first quarter: + 1.1% year-on-year, s / adj (forecast + 0.6%). Final […]
Tag: Australia
The RBA keeps its interest rates unchanged at the June meeting
The Reserve Bank of Australia (RBA) has decided to keep its interest rates unchanged at the all-time low of 0.1% at their June meeting, as expected. The entity has not changed its rates since November 2020, when it lowered them from 0.25% to the current 0.1%. RBA statement At its meeting today, the Board decided […]
He is open to further talks with China to solve the problem
The Australian Trade Minister, And Tehan, appeals to the World Trade Organization (WTO) to establish a dispute settlement committee to address the issue of customs tariffs barley imposed by China. Australia is open to further discussions with China to resolve this matter, Tehan said. The trade dispute between China and Australia dates back to May […]
Change in employment well below expectations, slight improvement in unemployment rate
Australia’s Labor Force Survey for April was released during today’s Asian session and has shown data on a change in employment well below expectations, but a slight improvement in the unemployment rate. The data has arrived as follows: The change in employment reached -30,600 compared to the 20,000 expected and from the 70,700 the previous […]
UK: Prime Minister Johnson backs duty-free trade with Australia
British Prime Minister Boris Johnson is willing to offer Australia duty-free access to UK food markets despite warnings that it could affect the country’s agriculturereports The Times on Wednesday. However, George Eustice, Secretary of the Environment, and Michael Gove, Minister of the Cabinet Office, have privately expressed reservations about the deal. This comes after the […]
Secretary of the Treasury Kennedy says economic recovery is stronger than in many other countries
The Australian Treasury Secretary, Steven Kennedy, has made optimistic comments on the economic recovery while giving a briefing on Tuesday. Key Comments: “Australia’s economic recovery is stronger than in many other countries“. “The price of iron ore is an uncertainty key to the outlook for the Australian economy. “ Meanwhile, it is likely that the […]
The US Secretary of State says they will not leave Australia alone to face coercion from China
“I reiterated that the United States will not leave Australia alone on the field, or perhaps I should say alone on the field, in the face of economic coercion from China,” said the US Secretary of State, Antony Blink, during a press conference on Thursday (US time) along with visiting Australian Foreign Minister Marise Payne […]
Fiscal deterioration supports negative outlook – S&P
“Australia’s negative outlook reflects a substantial deterioration in fiscal space at the ‘AAA’ rating level and our view is that risks remain on the downside“S&P Global Ratings said in a statement Tuesday, Reuters reported. “Downside risks persist after the budget, supporting our negative outlook on Australia,” the rating agency explained. They indicated that the increase […]
China calls on gas importers to stop their new shipments from Australia – Bloomberg
China has asked smaller liquefied natural gas (LNG) importers to stop their new shipments from AustraliaBloomberg reports, citing people close to the leadership of government officials. Featured Comments: “The firms have received verbal orders from government officials to avoid purchasing additional LNG from Australia for delivery over the next year.” “The large state importers that […]
The RBA keeps its interest rates unchanged at 0.1% at the May meeting
The Reserve Bank of Australia has decided to keep its interest rates at 0.1%, as expected. The entity has not changed its rates since November 2020, when it lowered them from 0.25% prior to the current level. At its meeting today, the Board decided to maintain current policy settings, including the 10 basis point targets […]
