Reserve Bank of Australia today announced an interest rate. At its meeting, RBA made no changes to its monetary policy settings once again, with the official cash rate (OCR) maintained a record low of 0.25%, as expected. The Bank has not purchased government bonds for some time. Until date with total purchases of around $50 [...]
As per the Retail Sales monthly report, The seasonally adjusted estimate rose 16.9% in May 2020. This is followed a fall of 17.7% in April, and a rise of 8.5% in March 2020. The following industries rose in seasonally adjusted terms in May 2020: Clothing, footwear and personal accessory retailing (129.2%), Food retailing (7.2%), Household [...]
RBA deputy governor Guy Debelle, in a webinar address to the Economic Society of Australia on Tuesday, said that country is showing better signs for the economy but still the country is facing a historically large decline. The Board has announced a target for the three-year Australian Government bond yield of around 25 basis points. [...]
Australian unemployment surged in May and a huge chunk of jobs were lost as ongoing restrictions to prevent the spread of the corona virus kept large parts of the economy shuttered. The seasonally adjustments estimates are "Employment decreased 227,700 to 12,154,100 people, Full-time employment decreased 89,100 to 8,540,000 people and part-time employment decreased 138,600 to [...]
