Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Wednesday, November 21, 2018 10:50:11 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Australia`s central bank keeps rates unchanged

By AFP, Sydney
07th-Dec-2016       
Comments
Share your thought
Post a comment »
Read all () »

Australia's central bank held interest rates at a record low of 1.50 percent Tuesday despite a recent run of soft economic data but weak inflation figures kept the door open for future cuts.
The Reserve Bank of Australia has cut rates by 300 basis points since November 2011 to support growth in non-resources industries as the economy transitions out of a mining investment boom that has helped the nation avoid a recession for a quarter of a century.
Recently appointed RBA governor Philip Lowe said "the board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time".
The Australian dollar was little changed after the announcement, buying 74.50 US cents.
The last rate decision of the year came a day ahead of the release of July-September growth data.
The economy grew 3.3 percent on-year in the previous three months, boosted by government spending, but is tipped to fall to an annual reading of just above 2.0 percent after a recent run of weak figures and declining business investment.
"It seems to us that they will look through a weak quarter-three GDP print, because they mention some slowing in year-end growth is likely before it picks up again," National Australia Bank chief economist for markets Ivan Colhoun told AFP.
"So they are implicitly saying that that is likely to be transitory and it may reflect the economic transition that is going on... there's no real signs anywhere the RBA is close to moving rates anytime soon."
Inflation continues to disappoint, with core prices rising just 1.3 percent in the September quarter, well off the RBA's target range of 2.0-3.0 percent.
Economists have also warned of underemployment despite the jobless rate sitting at a healthy 5.6 percent in October but the recent rise in commodity prices "are providing a boost to national income", Lowe added.

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Smart schools to make education easier


FOR the first time in the country, the government on November 15 introduced the 'Smart School' at Pirpur village of Alokdia Union Parishad in Chuadanga Sadar Upazila spending Tk 5 lakh. The Smart School concept is comparatively a new idea in our country. But in the developed countries it is ...

City »

Jatiya Party Chairman Hussain Muhammad Ershad taking interview of the nomination seekers of the party for the eleventh parliamentary elections at its office in the city's Banani on Tuesday.


.

Entertainment »

#MeToo: Preity Zinta apologises for hurting sentiments


Preity Zinta has apologised for her views on the #MeToo movement during an interview with a Bollywood website. In a statement issued on Tuesday, the actor claimed that despite being a supporter of the movement, her comment was taken out of context."My reason for saying 'I wish something like this ...

International »

British PM`s N Irish allies up pressure over Brexit


AFP, London :British Prime Minister Theresa May gathers her new-look cabinet Tuesday, facing some relief from party plotting over Brexit but under fresh pressure from her Northern Irish allies.The Conservative leader holds her first cabinet meeting since two ministers quit last week over the divorce deal with the European Union, ...

Football »

Northern Ireland's Corry Evans (left) goes on to score against Austria during the UEFA Nations League soccer match between Northern Ireland and Austria at Windsor Park in Belfast on Sunday.


International »

HK democracy leaders pleaded not guilty in Umbrella movement trial


AFP :Three leading Hong Kong democracy campaigners pleaded not guilty on Monday to public nuisance charges over their involvement in massive rallies calling for political reform, as room for opposition in the semi-autonomous city shrinks under an assertive China.The pioneering trio are among nine activists all facing public nuisance charges ...

Editorial »

Four killed in Narsingdi: Who will take responsibility?


FOUR people were killed and 50 others injured in two separate clashes between two factions of locals in Raipura upazila of Narsingdi on Friday last. Of the dead Tofayel Rana -- an SSC examinee from Bashgari High School -- and three others Morom, Sohrab and Swapan were killed in gun ...

City »

Prime Minister's Security Affairs Adviser Major General (Retd) Tarique Ahmed Siddique and Chief of Naval Staff Admiral Nizamuddin Ahmed pose for a photo session with the participants of a seminar on ‘Maritime Good Governance towards Sustainable Development’ at Hotel Radisson Blu in the city on Monday.


Entertainment »

Mehazabien changes one`s life


Sheikh Arif Bulbon :Mehazabien Chowdhury has already established herself in the field of acting that directors always want to keep in engage with works. If Mehazabien likes story and character she always tries to work. After Mizanur Rahman Aryan’s Boro Chhele, Mehazabien became more selective in the selection of story ...

City »

Bangladesh Army Chief Aziz Ahmed inspcting parade on occasion of endorsing regimental colour to Adhoc 11 Bangladesh Infantry Regiment (Machanised ) at CMP Center and School Parade Ground in Savar Cantonment yesterday.


Cricket »

BCB President Nazmul Hassan assumes rotating ACC Presidency


President of Bangladesh Cricket Board (BCB) Nazmul Hassan Papon MP assumed the post of Asian Cricket Council (ACC) President for a two- year term at its Annual General Meeting held in the Pakistani city of Lahore on Saturday.Nazmul Hassan Papon is the 3rd ACC President from Bangladesh following in the ...

Cricket »

England win second Test against Sri Lanka to seal series


AFP, Kandy :Jack Leach's first five-wicket haul clinched an overwhelming win for England in the second Test against Sri Lanka on Sunday that sealed the series with a match to go.England needed just 30 minutes on the fifth day to take the final three wickets with Leach fittingly getting last ...

Editorial »

US-China trade war : An opportunity for BD to expand businesses and attract FDI


THE ongoing trade war between the US and China has created a better opportunity for Bangladesh, especially for garment sectors. The exporters have been receiving a greater number of work orders from both China and the US. The current trade war has opened an opportune moment for us (Bangladesh) as ...

International »

Sri Lankan President seeks talks to end power struggle


AFP, Colombo :Sri Lanka's President Maithripala Sirisena on Sunday called crucial talks with political leaders in a bid to end a power struggle with the prime minister he sacked last month.The Indian Ocean nation has been paralysed since October 26 when Sirisena deposed Ranil Wickremesinghe as premier and replaced him ...

International »

No ‘final conclusion’ on Khashoggi killing, say US


AFP, Washington  :The US government has not reached a final conclusion over the killing of Jamal Khashoggi, the State Department said Saturday following reports that the CIA had held the Saudi Crown Prince responsible."Recent reports indicating that the US government has made a final conclusion are inaccurate," State Department spokeswoman ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news