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Top related persons:
Belinda Allen - 2 Stella Qiu - 2 Philip Lowe - 1 Lowe - 1 Michele Bullock - 1 Goldman Sachs - 1 Hebe Chen - 1 Wayne Cole - 1
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SYDNEY - 2 Reserve Bank of Australia - 2 Commonwealth Bank of Australia - 2 CBA - 2 National Australia Bank - 2 Thomson - 2 IG - 1 Reuters Global Markets - 1

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4 mentions found


☆ Australia holds rates steady, might be done tightening
  + stars: | 2023-08-01 | by ( Stella Qiu | ) www.reuters.com   time to read: +4 min
Markets had leaned toward a steady outcome given recent data showed inflation had eased for a second quarter and consumer spending was softening. However, economists were more split on the outcome, with 20 out of 36 polled by Reuters expecting a hike. Swaps now implied a risk of around 13 basis points of tightening by year end. In a relief for policymakers, headline inflation slowed more than expected in the second quarter while retail sales posted their biggest fall this year in June. "While the RBA retains a tightening bias, we expect the hurdle to another rate hike is high.
Persons: Philip Lowe, Lowe, Michele Bullock, Belinda Allen, Goldman Sachs, Hebe Chen, Stella Qiu, Wayne Cole, Anisha Sircar, Sam Holmes Organizations: SYDNEY, Reserve Bank of Australia, Reuters, Commonwealth Bank of Australia, CBA, National Australia Bank, IG, Reuters Global Markets, Thomson
☆ 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 retail sales level off in Feb as shoppers rein in spending
  + stars: | 2023-03-28 | by ( Stella Qiu | ) www.reuters.com   time to read: +3 min
SYDNEY, March 28 (Reuters) - Australian retail sales levelled off in February after wild swings around the year-end holidays, suggesting consumers are reining in spending in the face of higher living costs and rising interest rates. Data from the Australian Bureau of Statistics (ABS) on Tuesday showed retail sales rose just 0.2% in February, compared to a revised 1.8% rise in January. Sales of A$35.14 billion ($23.48 billion) were 6.4% higher than a year earlier. The figure beat median forecasts of a 0.1% rise, pushing the local dollar higher to $0.6674 , up 0.4% for the day. Australia employment rebounded strongly in February, the jobless rate eased back to near 50-year lows, and business conditions remained resilient.
☆ Dollar towers on lingering effects of Powell's testimony
  + stars: | 2023-03-09 | by ( Rae Wee | ) www.reuters.com   time to read: +3 min
In the second day of his testimony to Congress on Wednesday, Powell reaffirmed his hawkish message, though struck a cautious note that debate on the scale and path of future rate hikes was still underway and would be data-dependent. As a result, the U.S. dollar index , which measures the greenback against a basket of six peers, slipped 0.02% to 105.61. Conversely, the Bank of Canada on Wednesday left its key overnight interest rate on hold at 4.50%, becoming the first major central bank to suspend its monetary tightening campaign. The Canadian dollar stood at 1.3808 per U.S. dollar on Thursday, after having weakened to a more than four-month low in the previous session following the decision. Elsewhere, the kiwi rose 0.03% to $0.6107, having slumped to a near four-month low in the previous session.
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