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While Australia escaped the worst of the global financial crisis, there’s no doubt that a number of our destination markets were badly affected by the downturn. Fortunately, there were a number of exporters that not only survived, but also thrived in this period. Liquid gold Of all the industries to suffer during the global economic [...]
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Reserve Bank governor Glenn Stevens has today confirmed a rise in interest rates this month. Stevens announced that the cash rate will increase by 25 basis points to 4.5 percent, effective from tomorrow. This was widely anticipated by economists who have pointed to strong growth in Asian markets, surging house prices in the Australian market [...]
...read moreThe Reserve Bank of Australia (RBA) has increased the cash rate by 25 basis points to 4.25 percent, due to the growing global economy. RBA governor Glenn Stevens indicated that global financial markets are functioning much better than they were a year ago, hence “the extraordinary support from governments and central banks is gradually being [...]
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The Reserve Bank this afternoon announced its decision to keep the cash rate at 3.75 percent. Governor Glenn Stevens said economic conditions have been stronger than expected, and inflation has declined slightly due to lower commodity prices, a rise in the Australian dollar and a period of slower growth in demand. “Inflation is expected to [...]
...read moreAustralia will continue to ride Asia’s “stellar growth”, predicts the latest HSBC Research report, Asian Economics First Quarter 2010: They say it may get bumpy. Written by Frederic Neumann and Robert Prior-Wandesforde, the report’s overview of Australia’s economic performance is glowing: “The Australian economy has elegantly side-stepped the global slump with a mixture of decisive [...]
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Minister for Resources, Energy and Tourism Martin Ferguson travelled to the USA at the weekend as part of a government campaign to attract more foreign investment. His meetings in Los Angeles, Washington and New York, scheduled as part of the annual G’Day USA: Australia Week campaign, will be with senior policy-makers, investors, strategists and business [...]
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The Victorian Government and Austrade will work together to increase the export of automotive components, technology and services to Asia and boost inbound investment. “This agreement will see us pool resources with Austrade to create an even stronger impact in China, India, Thailand and Korea. New automotive specialists will be located in these countries to [...]
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The Organisation for Economic Cooperation and Development (OECD) has attributed the ‘surprising’ speed of the world’s economic recovery to China, Asia and the USA. While Asian economies are driving the majority of the growth, the OECD also noted the USA’s unexpectedly strong rebound. However, it warned that the growth needs to be made sustainable after [...]
...read moreMinister for Trade Simon Crean has announced funding of $1 million towards the Economic Research Institute for ASEAN and East Asia (ERIA), a facility designed to strengthen research on regional economic integration. ERIA will research important structural reforms needed to rebalance Asia’s growth away from exports and towards domestic demand as a way to return [...]
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The Reserve Bank of Australia (RBA) yesterday raised the cash rate to 3.5 percent, a rise of 25 basis points and the second consecutive increase after October’s 25-point rise. In a statement, RBA governor Glenn Stevens attributed the increase to global events: “The global economy has resumed growth. With economic policy settings likely to remain [...]
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