Friday, 19 April 2024
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EKONOMI AUSTRALIA

Australia's central bank warns of inflation risks, pain ahead for households
Wednesday, 31 May 2023 14:56 WIB | Fiscal & monetary

The head of Australia's central bank on Wednesday pledged to do whatever is necessary to bring inflation back to target, warning that risks to inflation are on the upside and households should brace for the pain ahead. Appearing before lawmakers, Reserve Bank of Australia Governor Philip Lowe...

Australia Retail Sales Flat in April as Consumers Cut Back on Food, Dining Out
Friday, 26 May 2023 16:06 WIB | Economy

Australian retail sales were flat in April as consumers, who face high living costs and rising interest rates, cut back spending on food and dining out, bolstering the case for a pause in rate hikes next month. Data from the Australian Bureau of Statistics (ABS) on Friday showed retail sales were...

Australian Unemployment Rises, Reducing Pressure for Rate Hikes
Thursday, 18 May 2023 15:21 WIB | Economy

Australia unexpectedly cut jobs in April and unemployment climbed for the first time this year, reinforcing the case for the Reserve Bank to stand pat at next month’s policy meeting. Employers shed 4,300 roles from a month prior, compared with a median estimate for a 25,000 gain, Australian...

Australia’s Retail Sales Gain in March Driven by Food Inflation
Wednesday, 3 May 2023 15:40 WIB | Economy

Australian retail sales rose for a third straight month in March, driven primarily by food inflation, as household spending begins to cool under the weight of the Reserve Bank’s aggressive interest-rate increases. Sales advanced 0.4% from a month earlier, compared with a forecast 0.2%...

Australia Can’t Take Too Long to Hit Inflation Target, Lowe Says
Wednesday, 3 May 2023 01:13 WIB | Fiscal & monetary

Australia’s central bank can’t take “too long” to bring inflation back down to its 2-3% target, Governor Philip Lowe said Tuesday, just hours after policymakers unexpectedly resumed raising interest rates. “We don’t need to get inflation back to target straight away, but nor...

Australia inflation eases in Q1, likely past the peak
Wednesday, 26 April 2023 15:26 WIB | Global economic

Australian inflation eased from 33-year highs in the first quarter as the cost of living saw the smallest rise in more than a year, while core inflation dipped below forecasts suggesting less pressure for another hike in interest rates. Data from the Australian Bureau of Statistics on Wednesday...

RBA Discussed Quarter-Point Hike Before Deciding on April Pause
Tuesday, 18 April 2023 15:13 WIB | Fiscal & monetary

Australia’s central bank discussed the case for raising interest rates by 25 basis points at its April meeting before deciding there was a stronger argument to pause its almost yearlong tightening cycle and wait for more data on the economy’s outlook. “Members recognized the strength of...

Australia March Employment Rises 53,006 M/m, Est. +20.0k
Thursday, 13 April 2023 15:20 WIB | Economy

Australia's employment rose more than economists expected in March. Employment rose 53,006 m/m (estimate +20.0k) in March, according to the Australian Bureau of Statistics. Estimates range +10.0k to +45.0k, 29 economists. Jobless rate was 3.5% (estimate 3.6%). Estimates range 3.4% to 3.7%, 29...

Australian Inflation Eases, Bolstering the Case for Rate Pause
Wednesday, 29 March 2023 14:23 WIB | Economy

Australian inflation decelerated more than expected in February, bolstering the case for the Reserve Bank to stand pat at next week’s policy meeting.  The consumer price indicator advanced 6.8% from a year earlier, down from 7.4% in January and compared with a forecast 7.2% increase,...

Australian Hiring Rebounds Strongly, Unemployment Drops to 3.5%
Thursday, 16 March 2023 14:34 WIB | Economy

Australian employment growth easily surpassed expectations in February, sending the jobless rate lower and underscoring the economy’s resilience to the most aggressive policy tightening cycle in a generation. The currency rose after government data Thursday showed employers added 64,600 roles...

Australia Trade Balance Unexpectedly Shrinks In January
Tuesday, 7 March 2023 14:55 WIB | Economy

Australia’s trade surplus shrank more than expected in January, data showed on Tuesday, as a small increase in exports was largely offset by a spike in imports on a sharp increase in automobile shipments. Australia’s trade balance showed a surplus of A$11.69 billion (A$1=$0.6731) in January,...

Australian Economy Slows as Interest Rate Hikes Begin to Bite
Wednesday, 1 March 2023 14:30 WIB | Economy

Australia’s economy expanded at a slower-than-expected pace in the final three months of 2022, in a sign the Reserve Bank’s rapid interest-rate increases are beginning to weigh on activity. Gross domestic product advanced 0.5% from three months prior, coming in below economists’ estimates...

Australia’s Wage Gains Slowed Last Quarter, Currency Declines
Wednesday, 22 February 2023 14:31 WIB | Economy

Australian wage growth unexpectedly slowed in the final three months of 2022, suggesting interest rates might not need to rise as high as anticipated and sending the currency lower. The Wage Price Index climbed 3.3% from a year earlier, compared with economists’ expectations of a 3.5% increase,...

Australia's central bank says more rate pain needed to tame inflation
Friday, 17 February 2023 17:38 WIB | Fiscal & monetary

Australia's top central banker again projected further interest rate rises in coming months and said the pain was worth bearing to bring inflation down. Speaking before members of parliament for the second time this week, Reserve Bank of Australia (RBA) Governor Philip Lowe said the extent of...

Australian Unemployment Unexpectedly Jumps to 3.7%, Yields Drop
Thursday, 16 February 2023 14:31 WIB | Economy

Australian unemployment unexpectedly jumped as the economy shed jobs for a second consecutive month, in a sign the labor market may be starting to cool in response to the Reserve Bank’s aggressive tightening cycle. The jobless rate climbed to 3.7% in January from 3.5%, Australian...

RBA’s Lowe Says Blame For Raising Rates ‘Unfair,’ Won’t Resign
Wednesday, 15 February 2023 17:05 WIB | Fiscal & monetary

Australia’s central bank chief Philip Lowe acknowledged interest-rate rises are unpopular, while adding he finds it “unfair” that blame for them is directed solely at him, as he reiterated plans to serve out his term. “It’s the job of the central bank to control inflation,”...

Australia Raises Inflation, Wages Outlook, Sees Higher Rates
Friday, 10 February 2023 14:26 WIB | Fiscal & monetary

Australia’s central bank boosted its forecast for core inflation this year and is trying to ensure the economy avoids a wage-price spiral, underscoring the need for even higher interest rates. The Reserve Bank predicted trimmed mean inflation at 6.25% in the year-ended June, up from 5.5%...

Australia Raises Key Rate to 10-Year High as Inflation Runs Hot
Tuesday, 7 February 2023 17:27 WIB | Fiscal & monetary

Australia’s central bank raised interest rates by a quarter-percentage point and reiterated its resolve to cool the hottest inflation in three decades.  At its first meeting of the year, the Reserve Bank lifted the cash rate to 3.35%, the highest level since September 2012, in a...

Australian Jobs Surprisingly Fall, Casting Doubt Over Rate Hike
Thursday, 19 January 2023 14:28 WIB | Economy

Australian employment unexpectedly fell in December and the jobless rate held unchanged, sending bond yields lower and casting doubt over another interest-rate increase in February. Employers cut 14,600 roles from the prior month, compared with an expected 25,000 increase, Australian Bureau of...

Australian CPI inflation rebounds to annual 7.3% in Nov
Wednesday, 11 January 2023 14:47 WIB | Economy

Australian inflation re-accelerated in November as strong demand drove holiday costs higher and flooding pushed up vegetable prices, a sign inflationary pressures had yet to peak. Data from the Australian Bureau of Statistics on Wednesday showed its monthly consumer price index (CPI) rose 7.3% in...


Fed's Powell: Restrictive Policy Needs Further Time to Work
Wednesday, 17 April 2024 00:53 WIB

Federal Reserve (Fed) Chairman Jerome Powell participates in a fireside chat about economic trends in North America at the Wilson Center's...

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Asia Markets Extend Declines amid Iran-Israel Tensions; China Economic Data on Deck
Tuesday, 16 April 2024 07:29 WIB

Asia-Pacific markets extended their declines as the world awaits Israel's response to Iran's air assault over the weekend. On Tuesday, China's...

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China's Economic Momentum Shows Signs of Cooling
Tuesday, 16 April 2024 09:12 WIB

China's economic momentum showed signs of cooling in March after a strong start in the first two months of the year, official data showed...

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New US Home Construction Falls to Lowest Level Since August
Tuesday, 16 April 2024 19:46 WIB

New home construction in the US slowed last month as consumers try to wait out high mortgage rates in hopes borrowing costs will ease later this...

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