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Economy
RBNZ reinstates lending restrictions to resolve NZ housing crisis
February 09, 2021 08:18 PM AEDT| By Team Kalkine MediaNew Zealand’s Central Bank (RBNZ) has finally intervened to find a solution to the housing market crisis. RBNZ decided to reimpose mortgage lending restrictions of pre-COVID-19 levels from March 1 and tighten them further from May 2021. This.....
Why Labour is asking Sunak to extend Covid-19 support to the businesses
February 09, 2021 06:58 PM AEDT| By Team Kalkine MediaThe Labour party has urged Chancellor of the Exchequer Rishi Sunak to extend the support for ailing companies after March, when much of it is slated to expire. The party has warned that businesses could face a £50-billion&.....
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Business confidence improves in January, conditions worsen: NAB survey
February 09, 2021 03:14 PM AEDT| By Team Kalkine MediaBusiness confidence picked up in January even as business conditions declined from record highs in December, according to a survey. The fall in business conditions was on account of the COVID-19-related breakouts in a few cities, which were ultimat.....
Australian Automotive Industry Back On Track As Vehicle Sales Pick Up
February 07, 2021 12:38 AM AEDT| By Team Kalkine MediaThe recently released data for new vehicle sales in Australia has further boosted hopes for a speedy recovery in the automotive industry. The number of new vehicles sold in the first month of the calendar year 2021 has gone up by more than .....
Canada’s December Trade Deficit Reduced To C$1.7bn As Exports Surge
February 06, 2021 08:43 PM AEDT| By Team Kalkine MediaCanada’s trade deficit reduced by half to C$1.7 billion in December 2020, compared to the previous month as exports saw steady growth, the government said on Thursday. Energy exports saw the highest growth during the period, rising by .....
US Unemployment Rate Fell 6.3% in January as Hiring Picks Up
February 06, 2021 02:44 AM AEDT| By Team Kalkine Mediaanxious on Congress pending verdict on Biden’s USD 1.9 trillion relief plan. US unemployment rate fell to 6.3 per cent in January as employers resumed hiring, but the job market would still take time to nurse back to health fully. Accordi...
UK Retail Footfall Plummets Amid the Third Lockdown
February 05, 2021 09:55 PM AEDT| By Kunal SawhneyThe lockdown 3.0 has led to a substantial decline of 76.9 per cent in the number of store visitors during January in contrast to the previous lockdown in the country. According to the UK’s apex trade association British Retail Consort.....
Be prepared for negative rates in six months: BoE tells banks
February 05, 2021 06:59 PM AEDT| By Team Kalkine MediaThe Bank of England has told the banks to be ready for negative interest rates in the next six months. The Monetary Policy Committee (MPC) has asked the Prudential Regulatory Authority, the national regulatory body for the British banks,&.....
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Key Takeaways from Governor Lowe’s Speech
February 05, 2021 04:24 PM AEDT| By Kunal SawhneyOn the 5th of February, RBA governor Phillip Lowe presented his updated outlook for the Australian economy in his opening statement to the House of Representatives Standing Committee on Economics. Governor Lowe pointed out that things have taken a .....
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December retail sales fall as shoppers tighten purse strings
February 05, 2021 03:10 PM AEDT| By Hina ChowdharyThe Australian retailers suffered a drop in sales in December as shoppers pulled back from spending. The retail sales fell 4.1 per cent in December 2020 after a rise of 7.1 per cent in the previous month, the Australian Bureau of Statistics (ABS) d.....
Positive Labor Report lifts hopes of US Economic Recovery
February 05, 2021 04:42 AM AEDT| By Team Kalkine MediaSource:wrangler, Shutterstock Summary US Labor Department reports a third consecutive decline in unemployment benefits claim. The current number is still higher than the previous figures recorded since 1967. The job market is expected t...
In A First, UK Launches Covid-19 Alternating Vaccine Study
February 05, 2021 04:35 AM AEDT| By Kunal SawhneyThe United Kingdom launched the world’s first alternating Covid-19 vaccine dose study on Thursday under which the feasibility of different vaccine shots will be examined. Under the schema of study, individuals will be administ.....
Bank of England to update the market about the negative rates today
February 04, 2021 07:14 PM AEDT| By Team Kalkine MediaWhile the Monetary Policy Committee of Bank of England (BoE) is expected to leave the bank rate unchanged in its latest announcement on Thursday, it is expected to provide an update on its negative rate project. This is the first time th.....
How Monetary Policy Decision Swayed the Australian Dollar
February 04, 2021 04:17 PM AEDT| By Team Kalkine MediaAUD/USD improved slightly on Thursday after a dip in the currency exchange rate observed on Tuesday. The highly traded pair has seen persistent declines in the US dollar over the past couple of months. Additionally, following the GME and AMC short .....
How Australia racked up trade surplus despite tensions with China
February 04, 2021 03:53 PM AEDT| By Team Kalkine MediaDespite its unpleasant trade ties with the world’s second-largest economy, Australia has managed to chalk up an impressive trade surplus in December. According to the data released by the Australian Bureau of Statistics (ABS) on Thursday, th.....
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Construction sector in the driver’s seat as employment rises in NZ
February 04, 2021 01:38 PM AEDT| By Kunal SawhneyLabour market is slowly coming out of the shadow of COVID-19 pandemic. Employment is seen picking up in New Zealand as the unemployment rates dropped to 4.9% in the quarter ended December 31,2020 as against 5.3% in the previous quarter of September.....
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Why NZ’s Q4 2020 new home approvals are in record numbers
February 04, 2021 12:50 PM AEDT| By Kunal SawhneyResidential construction continues to be on a rise. New homes consented reached a record high in Q4 of 2020. As per Stats NZ, 11,291 new homes were consented in the fourth quarter of 2020, beating the earlier record of 10,713 set in December 1973......
Energy Consumers in The UK Willing to Adopt Sustainability: Survey
February 03, 2021 11:02 PM AEDT| By Kunal SawhneyGlobal consulting firm EY in a survey came across startling facts regarding the changing consumption pattern in the UK’s energy sector. According to the survey findings, more customers are factoring sustainability while choosing energy-relate.....
Canada Begins Airline Bailout; Sunwing Gets Emergency C$375Mn Loan
February 03, 2021 10:22 PM AEDT| By Hina ChowdharyCanada’s budget airline Sunwing will receive C$375 million in emergency loans to keep it afloat after the government announced new travel restrictions due to the rising number of Covid infections. The company had begun talks for the .....
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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.....
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