Arab Today, arab today australia central bank to lift rate in next move
Last Updated : GMT 19:38:33
Arab Today, arab today
Arab Today, arab today

Australia central bank to lift rate in next move

Arab Today, arab today

Arab Today, arab today Australia central bank to lift rate in next move

Canberra - Xinhua

Amid escalation of global uncertainties, Reserve Bank of Australia (RBA) is preferring steady policy on its interest rate, and given the medium term outlook for the mining investment boom, next move on the rate will be up, not down, expert said on Tuesday. RBA on Tuesday announced to keep interest rates on hold at 4.75 percent for the 11th straight month, citing unsettled conditions in global financial markets. There have been speculations that RBA will cut rate later this year due to the glooming business confidences and global finance market downturn. However, HSBC Australia and New Zealand chief economist, Paul Bloxham said the tone of the post-board meeting statement suggested RBA does not tend to fine tune and steady policy is preferred. While this is the longest period of steady rates for the current governor, Bloxham, a former RBA economist, said it is not unusual for the central bank to sit still for a long time. \"We think the RBA is still very keen not to have to cut rates, if it can avoid it, given the medium term outlook for the mining investment boom, the very high terms of trade and the limited supply capacity of the economy,\" he told Xinhua in an email note on Tuesday. \"As we have pointed out repetitively, to cut rates the RBA would need to be able to credibly revise down its underlying inflation forecasts from above the target band down to the lower half of the target band. \"This is a long way to move given the very strong pick up in mining investment, weak supply side of the economy and general global inflationary environment. Add to this that the exchange rate is now giving them less help.\" He said RBA will now focus on the upcoming CPI numbers, published on 26 October, just days before the RBA board is next scheduled to meet on November 1. Meanwhile, federal Treasurer Wayne Swan said the decision to leave the cash rate unchanged reflects a balance between continuing global uncertainty and Australia\'s medium-term overall domestic strength. Apart from the low unemployment, strong public finances and record pipeline of business investment, Swan said the latest international trade report from the Australian Bureau of Statistics (ABS), also released on Tuesday, further underscored the economy\'s strong fundamentals. The data showed a trade surplus of 2.9 billion U.S. dollars in August, the second largest surplus on record, and driven by an eight percent jump in exports. \"We should take comfort in the fact that our situation is in stark contrast to many advanced economies, and the RBA confirms today it has room to move if the global situation further deteriorates,\" Swan said in a statement on Tuesday. RBA last raised its interest rate for 0.25 percent to 4.75 percent in November 2010.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia central bank to lift rate in next move Arab Today, arab today australia central bank to lift rate in next move

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday