The Australian central bank's top dog may have broken central bankers' seemingly unshakable code of avoiding comments on where interest rates are headed.» Read More
Mike Smith, CEO, ANZ says growth has been strong in "offshore" Asian operations.
Australia's central bank surprised the market with the size of its overnight interest rate cut. Here's what could be next.
The Reserve Bank of Australia's surprise move of cutting interest rates on Tuesday by 50 basis points — its biggest cut since the last financial crisis — has market analysts wondering if there's more bad news ahead for the Australian economy.
The Reserve Bank of Australia is widely expected to cut interest rates by 25 basis points when it meets on Tuesday, after data showed last week that inflation slowed sharply in the first quarter. However, one analyst tells CNBC that to have any material impact on the economy, the central bank needs to cut rates by 50 basis points.
Simon Burge, CIO, ATI Asset Management says certain sectors like home builders and retailers are expecting a 50 basis point rate cut from the RBA given the underlying weakness in the domestic consumer market.
Australian employment jumped past all expectations in January, shoving the jobless rate to a six-month low of 5.1 percent and lifting the local dollar half a cent as investors pared back expectations for a cut in interest rates any time soon.
Moves by Australian banks to raise mortgage rates independently of the central bank did not change the impact of monetary policy, a top central banker said on Tuesday, dampening speculation of a cut to its official rate in response.
Australia's central bank on Friday repeated that interest rates were at the right level for the moment though there would be scope for an easing if the economy slowed materially.
The Australian jobs market is showing further signs of weakness, with job advertisements in newspapers and on the internet slipping for a third consecutive month in September. ANZ’s monthly survey shows job ads dipped 2.1 percent in September, from August.
Australia's economic growth may have slowed in the January to March quarter compared to last year, but one investment advisor is betting the mining boom in the country will continue, and that in turn will benefit one largely neglected property market.