Australia’s CPI consumer price index was stable in the first quarter after the slowdown in the previous quarter. A positive surprise was expected to fuel the debate on a change in monetary policy by the central bank, but the data has not met expectations and the Australian dollar is under pressure. The result has been […]
Tag: Australia
Foreign Ministry says Australia should avoid worsening already tense bilateral relations
Wang Wenbin, spokesman for the Ministry of Foreign Affairs of China, has warned that the Australian side should avoid worsening already tense ties with China. Additional comments “China rejects and deplores this attitude.” “China has staged severe protests before the Australian side. “ “China reserves the right to take further action“. This occurs after Australia […]
Retail sales exceed expectations and reach 1.4% vs. 1% expected
In a relatively quiet week in economic data, investors were expecting the release of preliminary Australian retail sales report for March from today. According to the preliminary report, Australian retail sales for March reached + 1.4% month-on-month, rising from the -0.8% recorded previously and above the 1% expected. Additional comments: ” The seasonally adjusted estimate […]
Australia’s economy to grow at fastest pace since 2007 amid win over Covid – Reuters poll
The Australian economy is expected to rejoice in its victory over COVID-19 by expanding at the fastest pace since 2007, a Reuters poll of 34 economists showed on Tuesday. Key Comments: “At a time when most major economies are battling a new wave of coronavirus cases, Australia has greatly reduced the outbreak, counting only about […]
Prime Minister Ardern says the next steps are to open the bubble to the Pacific nations, while the “travel bubble” with Australia begins.
New Zealand (NZ) Prime Minister Jacinda Ardern said in a statement on Monday that the next steps for the country are to open the travel bubble to the Pacific nations. Currently, there are no movements for now in a bubble between New Zealand and Singapore, nor are there any formal talks, added Ardern. These comments […]
70,700 new jobs are created in March compared to the 35,000 expected while the unemployment rate falls 5.6%
The labor force survey from the Australian Bureau of Statistics for March has come as follows: Change in employment in March: + 70,700 (Reuters poll: + 35,000). Unemployment rate: + 5.6% (Reuters poll: +5.7). Full time employment: -20.800. Participation rate: + 66.3% (Reuters poll: + 66.1%). The data is robust, with the figures of change […]
Australian Trade Minister says businesses must step up to repair ties with Beijing
Australian companies must make efforts to repair ties with Chinasaid the country’s Trade Minister Dan Tehan after releasing a final joint report by Asia Society Australia and the Business Council of Australia. Key Comments: “A Second Chance: How Team Australia Can Succeed In Asia” 24 tips on how Australia can diversify its trade in Asia […]
The Labor Party calls for a review of the RBA’s fiscal and monetary policy
Australia’s opposition Labor Party has requested a review of the Reserve Bank of Australia (RBA) monetary policy and the governing government’s fiscal policyas they are under criticism due to economic weakness ahead of the country’s first recession last year, Bloomberg reports. “Most of the blame for years of low wages, insecure work and stagnant business […]
Treasury Secretary Frydenberg Says House Prices Boost Confidence
After the Reserve Bank of Australia (RBA) highlighted the recent strength in the housing market at its monetary policy meeting on Tuesday, the country’s Treasury Secretary Josh Frydenberg has offered optimistic comments on the real estate market. Frydenberg has said that he believes as value and price increase, people have more faith in the economy […]
Prime Minister Morrison says EU has denied export of 250,000 doses of COVID vaccine to Australia
The Australian Prime Minister, Scott Morrison, expressed concern on Wednesday, as the European Union (EU) has denied the export of covid vaccines to Australia. Key Comments: I do not criticize the EU for the delay in the vaccine. Any suggestion of criticism against the European Union would be completely wrong. The European Union has denied […]
