Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Bank of Australia"


25 mentions found


CNBC asked Intrepid Travel and ChatGPT to put together a two-day itinerary to Melbourne City, AustraliaAsia-Pacific markets are set to open higher on Tuesday, tracking Wall Street gains buoyed by a Tesla rally, and as traders wait to watch key Chinese financial policymakers speak at an investment summit in Hong Kong. Futures for Australia's S&P/ASX 200 stood at 8,327, slightly higher than the index's last close of 8,300.2. Japan's Nikkei 225 futures pointed to a stronger open for the market, with the futures contract in Chicago at 38,275 and its counterpart in Osaka at 38,310 compared to the previous close of 38,220.85. Hong Kong's Hang Seng index futures were at 19,766, higher than the HSI's last close of 19,576.61. The Reserve Bank of Australia will publish the minutes from its monetary policy meeting earlier this month, where it held its benchmark interest rate for the eighth meeting in a row at 4.35%.
Organizations: CNBC, Intrepid Travel, Futures, Australia's, Japan's Nikkei, Reserve Bank of Australia Locations: Melbourne City, Australia Asia, Pacific, Hong Kong, Chicago, Osaka
Dollar eyes weekly gain on slower Fed easing, inflation outlook
  + stars: | 2024-11-15 | by ( ) www.cnbc.com   time to read: +4 min
The euro was in turn on track for its worst weekly performance in seven months with a fall of 1.75%. Sterling traded 0.02% lower at $1.2666 and was similarly set to lose 2% for the week, its worst weekly fall since January 2023. Higher trade tariffs and tighter immigration under President-elect Trump's incoming administration are projected to fuel inflation, potentially slowing the Fed's easing cycle longer term. The yen was last 0.2% lower at 156.57 per dollar, on track for a weekly decline of 2.5%. Elsewhere, the Australian dollar eased 0.06% to $0.6450 and was set to lose just over 2% for the week, its worst weekly performance in four months.
Persons: Donald Trump's, Sterling, Jerome Powell, Carol Kong, CBA's, bitcoin, Joshua Chu Organizations: Traders, Commonwealth Bank of Australia, U.S ., Treasury, New Zealand, Hong Kong Web3 Association Locations: U.S, CBA's Kong
Asia-Pacific markets are set to trade mixed on Tuesday as investors prepared for the U.S. presidential election and a possible interest rate cut from the Federal Reserve later this week. Hong Kong's Hang Seng index futures were at 20,658, slightly higher than the HSI's last close of 20,567.52. Australia's S&P/ASX 200 slid 0.32% as traders keep an eye on the upcoming central bank rate decision. Analysts at HSBC and the Commonwealth Bank of Australia expect the Reserve Bank of Australia to leave the cash rate unchanged. South Korea's consumer inflation in October rose 1.3% from a year ago, slightly cooler than Reuters' expectations of 1.4%.
Persons: Australia's Organizations: U.S, Federal Reserve, Nikkei, HSBC, Commonwealth Bank of Australia, Bank of Australia Locations: Asia, Pacific, Chicago, Osaka
Australia's central bank keeps rates unchanged at 4.35%
  + stars: | 2024-11-05 | by ( Lim Hui Jie | ) www.cnbc.com   time to read: +1 min
Australia's central bank held its benchmark interest rate at 4.35% for the eighth meeting in a row, in line with expectations from economists polled by Reuters. The central bank expects that the headline rate will increase as these measures expire. The RBA instead pointed at the underlying inflation rate in Australia. The "trimmed mean" came in at 3.5% in the the September quarter, which was still "some way" from the 2.5% midpoint of the inflation target. Externally, the bank added that "heightened geopolitical risks and potential changes to trade and fiscal policies abroad add to this uncertainty."
Organizations: Reuters, Reserve Bank of Australia Locations: Australia
The euro rose 0.4% to $1.0876 but faces resistance around $1.0905, while the dollar dipped 0.3% on the yen to 152.45 yen . Analysts believe Trump's policies on immigration, tax cuts and tariffs would put upward pressure on inflation, bond yields and the dollar, while Harris was seen as the continuity candidate. "A Harris win and a split Congress would likely result in 'Trump trades' quickly reversed and priced out," he added. Uncertainty over the outcome is one reason markets assume the Federal Reserve will choose to cut rates by a standard 25 basis points on Thursday, rather than repeat its outsized half-point easing. Futures imply a 99% chance of a quarter-point cut to 4.50%-4.75%, and an 83% probability of a similar-sized move in December.
Persons: Kamala Harris, Republican Donald Trump, Harris, Chris Weston, Trump, Goldman Sachs, Jan Hatzius Organizations: Democratic, Republican, Dealers, Trump, Reserve, of England, Norges Bank, Reserve Bank of Australia, Labor, China's National People's Congress, Reuters Locations: Asia, United States, Iowa, Treasuries, gilts, Beijing
An Australian one dollar coin sits atop a United States one dollar bill in this illustration photo taken February 12, 2016. The dollar hovered close to a three-month peak on Wednesday in a big week for macroeconomic data that could reveal the path for U.S. monetary policy. The Australian dollar edged closer to a three-month trough after some stickiness in inflation suggested a Reserve Bank of Australia interest rate cut is unlikely this year. The ADP employment report is due later in the day, ahead of the potentially crucial monthly payrolls report on Friday. "The U.S. dollar continues to garner strong support as markets adjust their rate path expectations," said James Kniveton, senior corporate FX dealer at Convera.
Persons: James Kniveton, Kniveton, Donald Trump, Rachel Reeves, Keir Starmer, Liz Truss Organizations: Reserve Bank of Australia, Federal Reserve, U.S ., Reserve Bank, Australia's, U.S, Treasury, Republican, European Central Bank, Sterling, Labor Locations: States, U.S, Australia, Europe
Yen steadies, dollar slips as China reaches for stimulus
  + stars: | 2024-09-30 | by ( ) www.cnbc.com   time to read: +3 min
Japanese 10,000 yen banknotes and U.S. one-hundred dollar banknotes are arranged for a photograph in Tokyo, Japan. The yen slipped about 0.4% to 142.75 per dollar after jumping 1.8% on Friday. European inflation data on Tuesday and Chinese data due later on Monday are also keenly awaited. The New Zealand dollar was up 0.3% at $0.6360 after hitting its highest since December on Friday. "The trend over next year or so is for the dollar to go down," said Commonwealth Bank of Australia strategist Joe Capurso.
Persons: Shigeru Ishiba, Ishiba, Ray Attrill, Joe Capurso Organizations: Liberal Democratic Party, NHK, Bank of Japan, National, New, New Zealand, U.S, U.S . Federal, Commonwealth Bank of Australia Locations: Tokyo, Japan, National Australia, China, U.S .
Australia's inflation rate has come within the RBA's target range in the month of August, easing from 3.5% in July to 2.7%., according to a Wednesday release from the country's Bureau of Statistics. The drop puts the rate below the Reserve Bank of Australia's target range of 2%-3% for the first time since August 2021. He said that while the relief programs will bring headline inflation to the top of the RBA's target range, the RBA will be "looking through" these subsidies and focusing on core inflation. He writes, "the path of core inflation back to the target range has stalled somewhat, and it is hard to see a major improvement in the near term. We think the bank will need to see three more inflation prints before they are comfortable embarking on an easing cycle."
Persons: Australia's, Michelle Bullock, Bullock, Sean Langcake, Langcake Organizations: Statistics, Reserve Bank, U.S . Federal Reserve, Fed, ., Australia's Locations: SYDNEY, AUSTRALIA, Sydney, Australia, country's, Oxford
Australian, New Zealand dollars scale new highs on China boost
  + stars: | 2024-09-25 | by ( ) www.cnbc.com   time to read: +3 min
An Australian one-hundred dollar banknote, top, and a New Zealand one-hundred dollar banknote are arranged for a photograph in Hong Kong, China, on Thursday, March 13, 2014. The Australian and New Zealand dollars scaled multi-month peaks on Wednesday while sterling hit its highest in more than two years against a weaker dollar, as China's aggressive stimulus package provided the latest shot in the arm for risk appetite. Data on Tuesday showed U.S. consumer confidence unexpectedly fell in September, amid mounting worries over the health of the labor market. Against a basket of currencies, the dollar last stood at 100.28, languishing near a more than one-year low of 100.21. The dollar index had fallen more than 0.5% in the previous session, its largest one-day percentage fall in a month.
Persons: Sterling, Carol Kong, Wells Organizations: New, Bank of, Federal Reserve, Commonwealth Bank of Australia, greenback, Markets Locations: Australian, New Zealand, Hong Kong, China, Bank of England, U.S, Wells Fargo
Asia-Pacific markets climbed on Tuesday, tracking gains on Wall Street after the S&P 500 and Dow Jones Industrial Average touched new closing highs in Monday's trading session. The broad market index added 0.28% to end at 5,718.57, while the Dow Jones Industrial Average gained 61.29 points, or 0.15%, to close at 42,124.65. The briefing is set to begin before Chinese markets open at 9:30 a.m. Currently, futures for the mainland Chinese CSI 300 are at 3,205.6, slightly lower than its last close of 3,212.76. As such, CBA expects a slightly less hawkish statement, but does not see a material shift in language or tone.
Persons: Pan Gongsheng Organizations: Dow Jones, Dow Jones Industrial, Traders, People's Bank of China, PBOC, CSI, Reuters, Commonwealth Bank of Australia, CBA Locations: Asia, Pacific, Australia's
The Australian dollar hovered close to its highest level of the year on Tuesday, with the central bank set to hold policy steady later and traders focused on any hints of potential near-term easing. The Australian dollar hovered close to its highest level of the year on Tuesday, with the central bank set to hold policy steady later and traders focused on any hints of potential near-term easing. The yen edged up to 143.45 per dollar, but remained close to the center of its September range of 147.20 to 139.58, a more than one-year peak reached on Sept. 16. The yen has retreated amid waning bets for aggressive tightening by the BOJ, particularly after governor Ueda struck a cautious tone of Friday, saying the central bank would spend some time monitoring global growth risks. The BoE kept rates unchanged last Thursday, with its governor saying the central bank had to be "careful not to cut too fast or by too much".
Persons: Kazuo Ueda, , Pan Gongsheng, Ueda, Sterling, BoE Organizations: U.S, Bank of Japan, Bank of England, Federal Reserve, European Central Bank, Reuters, Commonwealth Bank of Australia, People's Bank of China, P Global Locations: China
Australia's central bank keeps rates on hold, stays hawkish
  + stars: | 2024-09-24 | by ( ) www.cnbc.com   time to read: +2 min
Reserve Bank of Australia (RBA) at the central bank's building in Sydney, Australia on May 2, 2022. The hawkish stance sent the Australian dollar 0.4% higher to $0.6864, the highest this year, and markets pared the chance of a December rate cut to 59% from 64% before the decision. Markets had wagered heavily on a steady outcome given underlying inflation remained sticky and the labor market held up surprisingly well. Governor Michele Bullock has used every opportunity recently to stress that the central bank does not expect a near-term rate cut. The RBA already trails other central bank in cutting rates, and the political pressure is ramping up for an easing.
Persons: Michele Bullock Organizations: Bank of Australia, Federal Reserve, Reserve Bank of Australia, Wednesday, Greens, Monday Locations: Sydney, Australia, Australia's
A Chinese flag in Pudong's Lujiazui Financial District in Shanghai, China, on Sept. 18, 2023. Asia-Pacific markets opened lower Monday as investors assessed monetary policy decisions from Japan and China on Friday after U.S. Federal Reserve's sharp rate cut sent markets higher last week. Despite growing calls for lower interest rates, the People's Bank of China unexpectedly left its key benchmark rate on hold on Friday. The Reserve Bank of Australia starts its two-day policy meeting on Monday, where central bankers will decide on the country's monetary policy path on Tuesday. Overall year-on-year CPI is expected to have cooled to 2.15%, compared to 2.40% the previous month
Organizations: National Bureau of Statistics, People's Bank of China, Reserve Bank of Australia Locations: Lujiazui, Shanghai, China, Asia, Pacific, Japan, Federal, Singapore
The dollar remained on the back foot on Wednesday after tumbling versus major peers overnight as a benign reading for U.S. producer prices reinforced bets on Federal Reserve interest rate cuts this year. Risk-sensitive currencies stayed strong after the unexpected softening in inflation buoyed equities, even with crucial U.S. consumer price index figures still looming later on Wednesday. New Zealand's dollar hovered near a four-week high ahead of a Reserve Bank of New Zealand policy decision, with markets split over the potential for a rate cut. The dollar was stable at 147.06 yen as it continued to consolidate around the 147 level this week. The kiwi edged up 0.07% to $0.6081, close to Tuesday's high of $0.60815, a level last seen on July 18.
Persons: CME's, Carol Kong, Sterling, Tony Sycamore Organizations: Australian, New, Reserve Bank of New, Traders, Federal, Commonwealth Bank of Australia, U.S, CPI, CBA, IG Locations: Reserve Bank of New Zealand
Australia's second-quarter wages rise at slowest pace in a year
  + stars: | 2024-08-13 | by ( ) www.cnbc.com   time to read: +2 min
Australian wages rose at their slowest pace in a year in the June quarter, falling short of expectations, while softer gains in the private sector suggest the labor market was easing. "The RBA will be somewhat relieved to see wage pressures subsiding," said Sean Langcake, head of macroeconomic forecasting for Oxford Economics Australia. "However, absent an improvement in productivity growth, the current pace of wage growth is still a little too strong for inflation to return to target quickly." The overall increase in annual wages was still just enough to take it above inflation of 3.6%, a welcome return to real pay growth after years of negative outcomes. Incomes will get an added boost from a major round of tax cuts that started in July.
Persons: Sean Langcake Organizations: Australian Bureau, Statistics, Oxford Economics Australia, Reserve Bank of Australia
Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. The Bank of Japan raising rates to their highest level since 2008 on July 30 caused the yen to strengthen to a seven-month high, pressurizing stocks. Markets globally were also spooked by fears of a U.S. recession stoked by a weaker-than-expected jobs report. Real wages in Japan also grew 1.1% in June compared with a year ago, the first time that wages have risen in 26 months. Strong wage growth offers more room for the Bank of Japan to tighten its monetary policy.
Persons: Topix, Korea’s Kospi, Hong, Australia’s, Brent, Dow Organizations: Nikkei, Bank of, Softbank Group Corp, U.S ., South Korean, Samsung Electronics, chipmaker SK Hynix, China’s CSI, . West Texas, Bank of Japan, Reserve Bank of Australia, Dow, Nasdaq Locations: Japan, Asia, Pacific, Bank of Japan, U.S
RBA commentary 'more balanced out this time,' strategist says
  + stars: | 2024-08-06 | 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 EmailRBA commentary 'more balanced out this time,' strategist saysShane Oliver, head of investment strategy and chief economist at AMP, discusses the Reserve Bank of Australia's decision to keep interest rates on hold.
Persons: Shane Oliver Organizations: AMP, Reserve Bank
Japan’s markets led losses in the region as the Nikkei 225 and Topix dropped as much as 7% in volatile trading. At these levels, both the Nikkei and Topix are nearing bear market territory, having fallen almost 20% from their all-time highs on July 11. Monday’s decline follows Friday’s rout when Japan’s Nikkei 225 and Topix fell more than 5% and 6%, respectively. The broader Topix marked its worst day in eight years, while the Nikkei marked its worst day since March 2020. The Nasdaq was the first of the three major benchmarks to enter correction territory, down more than 10% from its record high.
Persons: Topix, , Australia’s, Kospi Organizations: Nikkei, Mitsubishi, Mitsui, Co, Sumitomo, Topix, Reserve Bank of Australia, Reuters, CSI, Nasdaq, Dow, Dow Jones Locations: Asia, Pacific, China, Taiwan, Australia, India, U.S
Japan's markets led losses in the region as the Nikkei 225 and Topix dropped as much as 7% in volatile trading. At these levels, both the Nikkei and Topix are nearing bear market territory, having fallen almost 20% from their all-time highs on July 11. Stock Chart Icon Stock chart iconMonday's decline follows Friday's rout when Japan's Nikkei 225 and Topix fell more than 5% and 6%, respectively. The broader Topix marked its worst day in eight years, while the Nikkei marked its worst day since March 2020. The Reserve Bank of Australia kicks off its two-day monetary policy meeting Monday.
Persons: Topix, Australia's, Kospi Organizations: Bloomberg, Getty, Nikkei, Mitsubishi, Mitsui, Co, Sumitomo, Topix, P, Reserve Bank of Australia, Reuters Locations: Shibuya, Tokyo, Japan, Asia, Pacific, China, Taiwan, Australia, India, Hong Kong
Bank of Japan Governor Kazuo Ueda delivers a speech at the start of issuance of new yen banknotes at the Bank of Japan headquarters in Tokyo on July 3, 2024. Asia-Pacific markets were mixed on Wednesday as investors awaited the Bank of Japan's rate decision and China's business activity data. Economists polled by Reuters expecting the bank to raise rates to 0.1%, though other analysts are expecting a larger hike. The BOJ's benchmark interest rate currently is in a range of 0% to 0.1%. Should the bank raise rates, this will mark the first time since 2010 that its benchmark interest rate stands firmly at 0.1% or higher.
Persons: Kazuo Ueda Organizations: Japan, Bank of Japan, Bank of, Reuters, Reserve Bank Locations: Tokyo, Asia, Pacific
The dollar eased on Monday in the initial reaction to U.S. President Joe Biden's decision to end his reelection campaign, clearing the way for another Democrat to challenge Donald Trump. The dollar eased on Monday in the initial reaction to U.S. President Joe Biden's decision to end his reelection campaign, clearing the way for another Democrat to challenge Donald Trump. China's yuan was largely unfazed by the central bank's decision to cut a key interest rate. Biden announced he was exiting the race on Sunday, and endorsed Vice President Kamala Harris to replace him as the Democratic candidate in the November election. Former President Trump, the Republican nominee, sits well ahead in betting markets following Biden's disatrous debate performance last month and a surge in questions about his mental competence.
Persons: Joe Biden's, Donald Trump, Biden, Kamala Harris, Trump, Joseph Capurso, Capurso, Harris Organizations: Democratic, Republican, Commonwealth Bank of Australia, Trump, British, People's Bank of China Locations: U.S
Dollar adrift ahead of U.S. inflation test; sterling firms
  + stars: | 2024-07-11 | by ( ) www.cnbc.com   time to read: +3 min
The dollar fell a touch on Thursday although moves were largely subdued ahead of a U.S. inflation report due later in the day, while sterling firmed on receding expectations for an August rate cut from the Bank of England (BoE). The dollar fell a touch on Thursday although moves were largely subdued ahead of a U.S. inflation report due later in the day, while sterling firmed on receding expectations for an August rate cut from the Bank of England. BoE Chief Economist Huw Pill on Wednesday said price pressures in Britain's economy were persistent and that the timing of a first rate cut was an "open question". His colleague Catherine Mann signalled she is unlikely to vote for an interest rate cut in August. Against the greenback, the euro gained 0.04% to $1.0834, and the Aussie dollar rose 0.01% to $0.6754.
Persons: BoE, Huw Pill, Catherine Mann, Carol Kong, Jerome Powell Organizations: Bank of England, Monetary, ANZ, MPC, Commonwealth Bank of Australia, Federal Reserve, U.S, New Zealand, Reserve Bank of New, Bank of Japan Locations: U.S, Asia, Japan
The New Zealand dollar edged higher ahead of the central bank's rate decision, with traders on alert for any signals on the timing for policy easing. In the first day of his testimony to Congress overnight, Powell said a rate cut is not appropriate until the Fed gains "greater confidence" inflation is headed toward the 2% inflation target. Traders lay about 73% odds for a rate cut by September, slipping from 76% a day earlier. New Zealand's kiwi added 0.1% to $0.6131, but staying mostly flat this week after pulling back sharply from Monday's three-week high of $0.6171. "If they do, financial markets could fully price the first RBNZ rate cut in October, from November at present," spurring a retreat in the kiwi to NZ$1.1031 per Aussie dollar, she added.
Persons: Jerome Powell, Powell, Taylor Nugent, Kristina Clifton Organizations: Federal, New Zealand, Fed, Traders, National Australia Bank, Reserve Bank of New, Commonwealth Bank of Australia, Aussie, NZ Locations: Reserve Bank of New Zealand
Euro rises after France's first-round vote, yen struggles
  + stars: | 2024-07-01 | by ( ) www.cnbc.com   time to read: +3 min
The euro rose on Monday after the first round of France's snap election put the far-right in pole position, though by a smaller margin than projected, while a downgrade to Japan's first-quarter growth figures knocked the yen lower. "They (RN) have actually performed a little bit worse than what was expected," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. The yen struggled to gain ground against a broadly weaker dollar, and was last 0.05% lower at 160.93 per dollar. That could lead to a cut to the Bank of Japan's growth forecasts in fresh quarterly projections due later this month and affect the timing of its next interest rate hike, analysts said. Elsewhere in Asia, the Chinese yuan - also a victim of stark interest rate differentials with the U.S. - was last 0.02% higher at 7.2981 per dollar in the offshore market.
Persons: Emmanuel Macron, Carol Kong, Michael Brown, CBA's Organizations: Commonwealth Bank of Australia, Reserve, New Zealand, Bank of, U.S Locations: Japan, Asia
Add to that the noise surrounding the US election, and it could be a rougher second half. Central Banks in Canada and the eurozone have both cut interest rates, but inflation rose in both of those regions last month. Australia, meanwhile, saw its inflation rate rise to 4% this week, stoking fears that the Reserve Bank of Australia could soon move to raise rates again. It was already well known that no documentation was found to show who worked on the door plug. Without the bolts, the door plug incident was pretty much inevitable.
Persons: London CNN —, they’ve, Michelle Bowman, she’s, Mary Daly, Austan Goolsbee, stoking, Joe Biden, Donald Trump, , José Torres, Torres, wouldn’t, Joseph Stiglitz, Trump, Trump’s, Max, , Al Michaels, Michaels, Peacock, ” Michaels, , CNN Michaels, Read Organizations: CNN Business, Bell, London CNN, Federal Reserve, foibles, San Francisco Fed, Chicago Fed, Central Banks, Reserve Bank of Australia, Interactive Brokers, Treasury, Trump, Peterson Institute, Oxford Economics, Allianz, CNN, Boeing, Alaska, Alaska Airlines, National Transportation Safety Board, Alaska Air, NBC, Summer Games, Olympics Locations: London, Canada, Australia, Renton , Washington, Paris,
Total: 25