RBA Minutes: Inflation Slowing Less Than Expected
RTTNews
|
24 days ago
(RTTNews) - Members of the Reserve Bank of Australia's Monetary Policy Board said that the country's economy was slowing and that inflation was declining less than expected, minutes from the central bank's May 7 meeting revealed on Tuesday.
A higher cash rate may be necessary to slow the pace of disinflation, the bank said.
Consumer spending was also weaker than expected, the minutes showed, and consumption growth was expected to remain weak for the rest of 2024.
At the meeting, the RBA policy board left its benchmark interest rates unchanged, leaving the cash rate target at 4:35 percent. The board also retained the interest rate paid on Exchange Settlement balances at 4.25 percent.
read more
Australia Jobless Rate Falls To 4.0%
Australia's unemployment rate dropped in May and employment increased notably, suggesting that the labour market is relatively tight, official data revealed on Thursday. The jobless rate fell to 4.0 percent in May, as expected, from 4.1 percent in April, the Australian Bureau of Statistics said. The number of people out of work decreased by 9,200 in May, reversing an increase of 33,000 in April
RTTNews
|
1 day ago
Australia Business Sentiment Turns Negative In May: NAB
Australia business confidence turned negative in May underscoring that the economic activity continued to remain subdued into the second quarter, survey results from NAB showed on Tuesday. The business confidence index dropped to -3 in May from +2 in April.
At -6, the forward orders index remained deep in the negative zone.
RTTNews
|
3 days ago
Australia GDP Adds 0.1% In Q1
Australia's gross domestic product expanded a seasonally adjusted 0.1 percent on quarter in the first quarter of 2024, the Australian Bureau of Statistics said on Wednesday.
RTTNews
|
9 days ago
Australia Services Sector Slows In May - Judo Bank
The services sector in Australia continued to expand in May, albeit at a slower rate, the latest survey from Judo Bank revealed on Wednesday with a services PMI score of 52.5.
RTTNews
|
9 days ago
Australia Company Gross Operating Profits Sink 2.5% In Q1
Company gross operating profits in Australia were down a seasonally adjusted 2.5 percent on quarter in the first quarter of 2024, the Australian Bureau of Statistics said on Tuesday.
RTTNews
|
10 days ago
Australia Has A$4.896 Billion Current Account Shortfall
Australia posted a seasonally adjusted current account deficit of A$4.896 billion in the first quarter of 2024, the Australian Bureau of Statistics said on Tuesday
RTTNews
|
10 days ago
Japan Monetary Base Rises 0.9% On Year In May
The monetary base in Japan was up 0.9 percent on year in May, the Bank of Japan said on Tuesday - coming in at 678.824 trillion yen.
RTTNews
|
10 days ago
Australia Manufacturing PMI Improves To 49.7 In May - Judo Bank
The manufacturing sector in Australia continued to contract, albeit at a slightly slower pace, the latest survey from Judo Bank revealed on Monday with a manufacturing PMI score of 49.7.
RTTNews
|
11 days ago