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Top related persons:
Alan Oster - 3 they're - 1 NAB Alan Oster - 1 Daniel Munoz - 1 Ben Dorber - 1 Oster - 1 Wayne Cole - 1 Muralikumar Anantharaman - 1
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Sydney's Australia
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NAB - 4 Reserve Bank of Australia - 2 Thomson - 2 Australia - 1 REUTERS - 1 Australian Bureau - 1 Statistics - 1 RBA Westpac - 1

Search resuls for: "Alan Oster"


7 mentions found


☆ Australia's central bank will probably cut rates only in November, economist says
  + stars: | 2024-03-19 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAustralia's central bank will probably cut rates only in November, economist saysAlan Oster, chief economist at NAB, says "services inflation is still too high. On the other hand, they're worried about the consumer and they're worried about unemployment."
Persons: Alan Oster, they're Organizations: NAB
☆ Australia is six months behind the rest of the world in the inflation fight: NAB
  + stars: | 2023-12-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAustralia is six months behind the rest of the world in the inflation fight: NABAlan Oster of NAB says that the RBA will only consider reducing interest rates "in the back end of next year".
Persons: NAB Alan Oster Organizations: Australia, NAB
☆ Australia retail sales extend losing stretch to a third quarter
  + stars: | 2023-08-03 | by ( Wayne Cole | ) www.reuters.com   time to read: +3 min
REUTERS/Daniel Munoz/file photoSYDNEY, Aug 3 (Reuters) - Australian retail sales volumes fell again in the June quarter as cost of living pressures and rising borrowing costs ate into consumer spending power, hampering economic growth and weakening the case for further interest rate hikes. Data from the Australian Bureau of Statistics on Thursday showed real retail sales fell 0.5% in the second quarter to A$35.2 billion ($23.02 billion), matching analyst forecasts. "The widespread fall in sales volumes reflects what retailers have been telling us about consumers focusing on essentials, buying less or switching to cheaper brands," said Ben Dorber, ABS head of retail statistics. Since sales account for around 17% of gross domestic product, the drop will weigh on economic activity and analysts expect barely any growth in the quarter. Thursday's data showed retail prices rose 0.9% in the second quarter, up from 0.7% the previous quarter.
Persons: Daniel Munoz, Ben Dorber, Alan Oster, Oster, Wayne Cole, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: REUTERS, Australian Bureau, Statistics, Reserve Bank of Australia, NAB, Thomson Locations: Sydney's, Australia
☆ Australian businesses, consumers at risk of sharp slowdown ahead
  + stars: | 2023-06-13 | by ( Stella Qiu | ) www.reuters.com   time to read: +3 min
"There is a growing risk that the RBA's attempts to maintain an even keel 'run aground,'" said NAB Chief Economist Alan Oster. The survey, however, pointed to persistent price pressures, with the measure of labour costs and purchase costs accelerating, in a concern for the RBA. NAB on Tuesday raised its call on peak rates in the current cycle, adding two more quarter-point hikes to 4.6%. Markets are now pricing the risk of two more hikes, and see rates staying elevated for the remainder of the year. CONSUMERS UNDER THE PUMPData from Westpac and Commonwealth Bank of Australia (CBA) also points to the strains consumers are feeling as high living costs and surging mortgage rates erode spending power.
Persons: Alan Oster, Bill Evans, Belinda Allen, Stella Qiu, Kim Coghill, Jamie Freed Organizations: NAB, RBA Westpac, SYDNEY, National Australia Bank, Reserve Bank of Australia, Westpac, Commonwealth Bank of Australia, Melbourne Institute, CBA, Thomson
☆ Australia business activity robust in April, cost pressures still a challenge
  + stars: | 2023-05-08 | by ( ) www.reuters.com   time to read: +2 min
SYDNEY, May 8 (Reuters) - Australian business conditions remained sturdy in April, supported by robust sales and labour market strength despite high inflation and rising interest rates, while cost pressures were still posing a challenge for firms. The survey from National Australia Bank Ltd (NAB) (NAB.AX) released on Monday showed its index of business conditions fell two points to +14 in April, but stayed well above its long-run average. The volatile measure of confidence edged up to 0, compared with March's -1, suggesting that an equal share of firms were optimistic as pessimistic. The still strong business activity showed why the Reserve Bank of Australia stunned markets last week by lifting rates to an 11-year high of 3.85%, when traders had looked for an extended pause, and warned that more tightening might be needed. Cost growth remained a challenge, with the measure of labour costs steadying at a quarterly rate of 1.9% and purchase costs picking up to 2.3%, compared with 1.9% in March.
☆ National Australia Bank lowers peak rate call for Australia to 3.85%, from 4.1%
  + stars: | 2023-03-30 | by ( Stella Qiu | ) www.reuters.com   time to read: 1 min
SYDNEY, March 30 (Reuters) - National Australia Bank said on Thursday it expects Australian interest rates to peak at 3.85%, down from a previous estimate of 4.1%. NAB added it still expects the Reserve Bank of Australia to raise its official cash rate by 25 basis points in April for a final time, beginning rate cuts in the first half of 2024. "We continue to see rate cuts in H1 2024 bringing the cash rate back to 3.1% as the economy slows and unemployment rises," the bank's chief economist Alan Oster said in a statement. Fellow Australian bank Westpac also cut its peak rate forecast to 3.85% earlier this month. Reporting by Stella Qiu in Sydney Editing by Alasdair PalOur Standards: The Thomson Reuters Trust Principles.
☆ Australia business activity strong in Feb, even as confidence wanes
  + stars: | 2023-03-14 | by ( ) www.reuters.com   time to read: +2 min
SYDNEY, March 14 (Reuters) - Australian business conditions remained resilient in February with sales and employment strong, even as confidence took a turn for the worse amid high inflation and rising interest rates. The survey from National Australia Bank Ltd (NAB) (NAB.AX) released on Tuesday showed its index of business conditions dipped one point to +17 in January, still well above its long-run average. The survey was conducted from Feb. 20 to 28, so it missed the recent chaos in financial markets after Silicon Valley Bank's collapse. Conditions were generally upbeat with the survey's measure of sales at a very high +27 in February, supported by historically low unemployment and rapid population growth. The survey's measure of labour costs ticked up to a quarterly rate of 2.8%, but retail price growth eased to 1.9%.
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