Australia

Lower inflation in Australia

AUSTRALIA - Australia's second-quarter inflation figure has come in slightly lower than expected at 0.7 per cent, reducing the chances of another increase in interest rates next month.

Howard backs Australian economy

AUSTRALIA - Prime Minister John Howard said Monday that the Australian economy was strong and resilient. The PM also expressed confidence in the Reserve Bank of Australia.

Reserve Bank of Australia - Bulletin, July 2002

REPORT - On 18 July the Reserve Bank of Australia (RBA) published its July 2002 Bulletin. In the Bulletin the RBA says that over the past five years, there has been a sustained rise in house prices in most major cities in Australia. Some part of this…

Speech by Ian Macfarlane, governor of RBA, 25 June

SPEECH - In a speech titled 'Relative Advance or Relative Decline?' Macfarlane looks at the prospects for the Australian economy over the next 20 years. He concludes that although we cannot predict the future, we can try and make sure that the economy is…

Australian reserves on the up

AUSTRALIA - The Reserve Bank took advantage of the local dollar's strength against the greenback last month to sell a net $170 million in local currency on the spot market and add to its foreign exchange reserves.

Australia calls for regulation overhaul

AUSTRALIA - Australia on Wednesday called for increased co-operation among national securities regulators after revealing that local investors had been cheated of at least A$400m in just three years by illegal offshore telemarketing scams.

Statement by Ian Macfarlane of the RBA, 5 June

PRESS RELEASE - Statement by Ian Macfarlane, Governor of the Reserve Bank of Australia, on monetary policy: "Following a decision taken by the Board at its meeting yesterday, the Bank will be acting in the money market this morning to increase the cash…

RB of Australia raises benchmark rate to 4.75%

AUSTRALIA - The Reserve Bank of Australia raised its benchmark interest rate for the second time in a month by a quarter percentage point to 4.75%. It is hoped this will put a damper on a housing boom and consumer spending that may fuel inflation.

Speech by Ian Macfarlane of the RBA, 31 May

SPEECH - Ian Macfarlane, governor of the Reserve Bank of Australia, delivered his twice-yearly opening statement to House of Representatives Standing Committee on Economics, Finance and Public Administration on 31 May.

Loyalty not on RBA cards

FEATURE - Ian Macfarlane and his Reserve Bank appear set on making their proposed changes to the open card schemes, Bankcard, Mastercard and Visa, by the end of the year, regardless of the growing belief the "reforms" will harm the people the central…

Reserve Bank of Australia 2002 Conference

CONFERENCE - The Reserve Bank of Australia 2002 conference 27-28 May, jointly organised with the Australian Treasury, is on the topic: 'Globalisation, Living Standards and Inequality: Recent Progress and Continuing Challenges'.

Speech by Glenn Stevens of the RBA, 16 May

SPEECH - Stevens gave a speech titled 'International Economic and Financial Issues: An RBA Perspective' on Thursday and said that the US economy remained the uncertain factor for world growth this year although it was clear a turning point had happened, …

WGC reaffirms, central banks should not sell gold

AUSTRALIA - The World Gold Council is continuing to ask European central banks to leave their reserves alone rather than putting quantities of gold up for auction, WGC managing director Robert Weinberg said Tuesday.

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