Tag: currency

In a bid to get the federal government’s reforms to the Reserve Bank of Australia across the line, Treasurer Jim Chalmers has told the Coalition he would allow future governments to retain the power to overrule an interest rate decision by the central bank. As the ABC’s political reporter Isobel Roe explained to News Breakfast...

5m agoWed 21 Aug 2024 at 10:41pm BOQ job cuts consultation will go until September 5 The bank just confirmed with ABC News that it started consulting on its 400 job cuts this week. This process will go until September 5. We’re still waiting to confirm if this process will include people offering themselves up...

Questioning has turned to housing, and the challenges with high rental increases and constructing new residential properties. Independent MP Allegra Spender asked about the intersection between houses being built by governments and those being built privately, and whether the two are adding to the challenges in building new housing. Bullock replies that there is “quite...

Good morning and welcome to the ABC’s markets blog! I’ll be with you this morning to help you get across the day’s business and finance news. Loading (That’s me, waking you up, to share the day’s news) Firstly, it looks like global markets have been continuing to recover from last week’s volatility.  Stock markets had...

Analysts have said that along with the weak US jobs data, part of the market volatility in recent days has stemmed from other factors. Part of that is increasing geopolitical tensions in the Middle East.  Another was the Bank of Japan’s decision last week to raise interest rates, which contributed to a rise in the...

You’re going to hear a lot about “yen carry trade” today. Betashares’ David Bassanese spoke to the ABC’s Radio National this morning where he explained it very succinctly. He started off by explaining “the other big thing” besides the fears of US recession that could be worrying investors. “The Bank of Japan raised interest rates...

That’s the view of EY chief economist Cherelle Murphy, who spoke to finance presenter Alicia Barry on News Channel a short time ago. Asked whether the RBA will have capacity to cut interest rates by the end of the year — as money markets are currently pricing in — Ms Murphy said it’s unlikely there...

Good morning! It’s Friday, August 2 and you’re reading the ABC’s markets blog — and I am thrilled to have your company. Let’s kick things off with a quick look at what happened on Wall Street overnight, where trade wrapped up a short time ago. US stocks ended sharply lower on Thursday, despite seeing some...

Market analyst Kyle Rodda from capital.com has put out a neat note to end the day. Here is his take on the action. “It has been quite some time since something really shook the tree and caused a scare in the markets. Wall Street was tangibly due for a big down day: it was approaching...