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Economy
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RBA Governor bats for continuation of monetary stimulus
February 03, 2021 03:29 PM AEDT| By Hina ChowdharyIn a categorical message to the financial markets, Reserve Bank of Australia (RBA) Governor Philip Lowe warned against the “premature” withdrawal of the monetary stimulus since it might take few more years to meet the targets for infla.....
Why private house approval hit a new high in December 2020
February 03, 2021 01:38 PM AEDT| By Team Kalkine MediaThe private sector house approvals surged for the sixth straight month in December and hit a record high amid robust demand due to stimulus measures and low-interest rates. While the approvals for private houses jumped 15.8 per cent in December, dw.....
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Why RBA kept interest rate unchanged
February 02, 2021 05:26 PM AEDT| By Team Kalkine MediaThe Reserve Bank of Australia (RBA) left the official interest rates unchanged at 0.1 per cent as it expected the economic recovery to be stronger than earlier anticipated. However, the rebound depends on the health situation and significant fiscal.....
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Payroll jobs rise in January; Queensland posts the biggest jump
February 02, 2021 02:41 PM AEDT| By Kunal SawhneyWith all states and territories reporting a rise, both payroll jobs and wages increased by 1.3 per cent over the fortnight to 16 January 2021. While the payroll jobs increased the most in Queensland (2.8 per cent), Northern territory reported a 0.5.....
What Does 2021 Hold for the Australian Retail Sector?
January 30, 2021 01:16 AM AEDT| By Kunal SawhneyIndeed, the Australian retail sector has been no exception in bearing the burden of stringent lockdown restrictions imposed in the wake of COVID-19 pandemic. However, the sector stood out in hitting the ground running as soon as the nation eased in.....
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Queensland to lift restrictions, reopen the border to NSW from 1 February
January 28, 2021 02:55 PM AEDT| By Kunal SawhneyIt is great news for people travelling to Queensland as the government has announced the reopening of its border to New South Wales from 01 February 2021. In December 2020, the Queensland government had barred Greater Sydney residents from enterin.....
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Why export prices saw biggest rise since March 2017
January 28, 2021 01:47 PM AEDT| By Team Kalkine MediaAmid strong demand in iron ore prices, the Australian export prices recorded the highest spike since the March quarter of 2017. The export price index surged 5.5 per cent in the December quarter 2020 and 0.3 per cent through the year, the data by t.....
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NAB Business Survey reports dip in Business Confidence
January 28, 2021 12:05 PM AEDT| By Hina ChowdharyThe monthly business report published by NAB shows an increase in business conditions during December 2020. Business conditions reached 14 pts, the highest level since late 2018, marking four continuous months of increase. However, the same was no.....
Brexit rules prompt Amazon to restrict alcohol sale in Northern Ireland: Report
January 28, 2021 02:18 AM AEDT| By Kunal SawhneyUK-based broadcaster ITV PLC (LON: ITV) reported that US multinational company Amazon has stopped the sale of beers, wines, and spirits in Northern Ireland because of the new Brexi.....
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Why Australia’s consumer prices climbed in December quarter
January 27, 2021 01:47 PM AEDT| By Hina ChowdharyThe consumer prices soared 0.9 per cent in the December quarter even as the Australian economy suffered the economic fallout from the COVID-19 pandemic in 2020. In the September quarter, inflation stood at 0.7 per cent. Image Source: Shutt.....
Housing Market Set to Turn Bullish as Demand Skyrockets
January 26, 2021 02:29 AM AEDT| By Team Kalkine MediaThe Australian property market is expected to experience a surge in prices as demand for property has been heating up since December. The new home sales in Australia skyrocketed by 91.8% to 13,527 units over the period of one month in December 2020.....
Why Australian house prices are set to soar 30% by 2023?
January 24, 2021 12:19 AM AEDT| By Kunal SawhneyThe lowest-ever interest rates might drive the house prices up by 30% during the upcoming three years, says Reserve Bank of Australia. Despite a recession triggered by COVID-19 in the ‘epic’ year of 2020, the rate of the houses surged 3....
Will Australian economy look up in 2021? Top 5 things to look forward to
January 23, 2021 02:04 AM AEDT| By Kunal SawhneyWhile 2020 was a year of many unprecedented events, it provided us ample reasons to look forward to 2021. Still carrying a few dismal remnants of the year bygone, FY21 started on a tumultuous note with high unemployment, slow economic growth and low...
Australia’s jobless rate falls in December
January 21, 2021 02:50 PM AEDT| By Kunal SawhneyA broad recovery in the labour market continued in December as Australia added 50,000 new jobs to the market. It speaks volumes about the economy's recovery after the Government began easing lockdowns. Source: Australian Bureau of Statisti.....
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Scrap media laws imposing Google and Facebook to pay to local media outlets: US
January 19, 2021 07:46 PM AEDT| By Team Kalkine MediaThe US has sent a submission to an Australian parliamentary inquiry urging the Australian government to scrap the media laws which will force the mega tech companies Google and Facebook to pay for sharing content from local media organisations. Hi.....
Bitcoin A Currency Reserve? Ex-Canadian PM Stephen Harper Says Yes
January 18, 2021 10:44 PM AEDT| By Kunal SawhneyCan bitcoin, the world’s largest cryptocurrency, become a reserve currency? While many analysts are concerned over the crypto’s volatile nature, former Canadian Prime Minister Stephen Harper claims it is certainly a possibility. While ad...
RBA Anticipates Asset Prices to Shoot Up Over Lower Interest Rates, Housing Price to Surge 30%
January 18, 2021 09:49 AM AEDT| By Kunal SawhneyReserve Bank of Australia (RBA) has disclosed its assessment of the low-interest environment on asset prices and the impact of monetary policy on savers, depositors & self-funded retirees. Household Spending to Experience a Boost Confidential...
Will Australian economy take off in 2021?
January 16, 2021 03:55 AM AEDT| By Kunal SawhneyThere was not a single economy across the globe that did not falter in the year 2020, owing to the COVID-19 pandemic. The Australian economy is no exception. Following the last year’s obvious contraction, the global economy is resurrecting a.....
Housing Loan Commitments reach Record High in November 2020
January 15, 2021 05:25 PM AEDT| By Hina ChowdharyABS released the figures for new loan commitments that showed a record high level of new housing loan commitments for November. The total value of new housing loan commitments rose by 5.6% to reach a value of $24 billion in November. This was a 23......
Australia issues a stern response to Google’s new experiment
January 15, 2021 04:15 PM AEDT| By Edita Ivancevichas urged Google to focus on paying for the content instead of fully blocking it. Google is experimenting with its algorithms and has blocked commercial Australian news outlets from its search results on some users’ devices, the Australia....
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