At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.
Growth in the global economy is continuing at a moderate pace, helped by firmer conditions in the advanced countries. China’s growth slowed a little earlier in the year but remains generally in line with policymakers’ objectives. Commodity prices […]
International Economic Conditions
Global economic and financial market developments had been somewhat more positive over the past month or so. Whereas the situation had been looking quite negative in early December, recent actions by the European Central Bank and euro-area governments had boosted confidence, although further measures would be required to bring about a comprehensive […]
Statement by Glenn Stevens, Governor: Monetary Policy Decision
At its meeting today, the Board decided to leave the cash rate unchanged at 4.25 per cent.
Information becoming available since the December meeting confirms that economic conditions in Europe were weakening late last year, with risks still skewed to the downside. Reflecting this, most forecasters have […]
According to the latest report released by the Australian Bureau of Statistics, retail sales declined in December, the first drop in six months, as consumers spent less at grocers and on dining out. Reserve Bank of Australia’s board meets tomorrow to decide on rates, and most economists predict a third straight reduction. A survey of […]
The currency market is still very sensible to the news from the eurozone. The situation in Greece raised concerns as the country moves closer to the possibility of a chaotic default and the market pulled back, but it is not impacting the market as much as before. Yesterday we saw better than expected eurozone flash […]
EUR/USD Technical Analysis
Next week EUR/USD will probably try to test 1.3121 level as long as we don’t sink below 1.2820 area. If we get very good news from the eurozone, we may even see 1.3260. if the pair fails to stay above 1.2965 level the outlook will remain bearish and we may be back […]
USD Gains on Europe Concerns
Weaker than expected Chinese manufacturing survey and downward revision of U.S. GDP data renewed worries about faltering global growth. The euro declined for the sixth time in eight days against the U.S. dollar as investors think that overall the eurozone economy is looking weak and trending weaker.
Australia’s central bank decided on a modest easing of monetary policy after weighing slower inflation and increased global risks against surging mining investment, the minutes (Nov. 1 policy meeting) showed.
Minutes of the Monetary Policy Meeting of the Reserve Bank Board
Developments in Europe were again the dominant […]
EUR/USD Slips on Italy Concerns
The uncertainty in the market still remains and most of the major currencies are caught in a sideways range. Investors are watching the European situation carefully and we don’t expect that there be a lot of movement ahead of the Italian vote on the budget. Eurogroup President and […]
RBA Reduced The Official Cash Rate From 4.75% to 4.5%
The latest report released by the China Federation of Logistics and Purchasing showed that the Purchasing Managers’ Index fell to 50.4 in October from 51.2 in September. This is the lowest level since February 2009. Economists think that the reading is a reflection […]