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Economy
Good news for Aussies, jobless rate dips to 13-year low
January 19, 2022 07:26 PM PST| By Akanksha VashishtHighlights Australia observed a large increase in employment in December 2021, says ABS. The unemployment rate fell to 4.2% last month. Easing restrictions and a subsequent rise in vaccination rates brought much of the lost labour back into th.....
US housing starts rise 1.4% in December despite cost, supply troubles
January 19, 2022 12:17 PM PST| By Sanjeeb BaruahHighlights Supply problems and labor shortages have slowed down construction. The Commerce data showed housing starts increased by 1.4% to a seasonally adjusted 1.702 million units last month, the highest level since March. Housing starts fo.....
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UK inflation surges to a 30-year high level: What to expect now?
January 19, 2022 06:06 AM PST| By Sreenivas D AjankarConsumer Price Index (CPI) inflation in the United Kingdom jumped to 5.4% in the final month of 2021. Britain’s inflation rate rose to the highest level in the last 30 years, as per the official figures released by the Office for National Sta.....
Has Australian economy begun to show impact of Omicron variant?
January 18, 2022 11:55 PM PST| By Akanksha VashishtHighlights Australia saw increased consumer spending pumping large sums of money into the economy last year. Aussies have embraced self-imposed restrictions amid growing fears surrounding the new variant. The latest payroll jobs and consumer s.....
Is Australia approaching Lewis turning point? How to tackle it?
January 18, 2022 10:03 PM PST| By Akanksha VashishtThe field of economics is full of interesting concepts and ideas, which help understand the performance of financial and other markets. Those keeping up with the economic concepts might be familiar with the theory conceptualised by Sir Arthur Lewis.....
Is COVID-19 the main reason for a dip in business confidence among Kiwis?
January 18, 2022 07:10 PM PST| By ManikaHighlights The Quarterly Survey of Business Opinion shows a decline in business confidence in NZ. Demand has also fallen as the COVID-19 outbreak continues. The survey shows that businesses have become cautious about investments. With the.....
Why Australia witnessed spike in international travel towards 2021 end
January 17, 2022 08:55 PM PST| By Akanksha VashishtHighlights The festive spirit resulted in booming international travel towards the end of 2021, as per the data released by the Australian Bureau of Statistics. International travel is still significantly lower than pre-pandemic levels, which w.....
How fintechs are disrupting Australia’s traditional mortgage business
January 17, 2022 08:26 PM PST| By AshishHighlights Fintech companies have started to pose serious challenges to traditional mortgage firms. The younger lot is now more open than ever in carrying out its banking activity online. Australia’s fintech industry has recently attract.....
How will slowdown in China's GDP growth impact Australia and other countries
January 17, 2022 04:47 PM PST| By Priyabrata PrustyChina's economy expanded by only 4 per cent in the fourth quarter of 2021, its slowest pace in nearly two years. Growth in the world's second-biggest economy slowed considerably in the last quarter of 2021 as the government remained focused on cont.....
Report: World’s richest got richer during pandemic
January 17, 2022 05:52 AM PST| By Priya BhandariA recent report by Oxfam has stated that the world’s 10 richest people have seen their fortune increase by more than double from US$700 billion to US$1.5 trillion (£1.01 trillion), since the start of the pandemic due to various factors .....
Why China’s GDP numbers are important for Aussie iron ore miners
January 16, 2022 10:55 PM PST| By AayushHighlights China will be releasing its Q4 GDP data on Monday at 0200 GMT. Investors will be keenly watching the commodity space, as China’s GDP numbers will be made public. Iron ores price has been rallying since December, now trading ov.....
Why is Australia relaxing border rules despite COVID-19 spike?
January 16, 2022 07:21 PM PST| By ManishaHighlights Despite a spike in COVID-19 tally, the Australian government has decided to relax restrictions over movement across borders. The border measures that restricted travellers from highly affected Southern Africa countries to Australia h.....
Djokovic flies out of Australia after court slammed door on him
January 16, 2022 07:16 PM PST| By AshishEnding days of drama, tennis superstar Novak Djokovic finally flew out of Australia following a court’s decision to uphold the Australian government's decision to cancel his visa on account of his unvaccinated status. With it, came the e.....
Would Omicron pose any threat to NZ economy?
January 15, 2022 11:00 AM PST| By ManikaHighlights New Zealand recorded its first Omicron case in mid-December 2021. Omicron variant has created an uncertainty around the economic situation The Delta variant which was more severe was not as harmful to the NZ economy as suggested. .....
World Bank: Global economic growth to fall to 4.1% in 2022
January 15, 2022 05:06 AM PST| By Toshiva JainHighlights Economic growth would fall in 2022 and 2023, according to the World Bank’s recent Global Economic Prospects The GDP fall this year is mainly because of the rise in COVID-19 cases across countries due to the spread of the new v.....
Will RBA follow the US Fed & hike rates?
January 14, 2022 06:28 AM PST| By Priyabrata PrustyThe US Federal Reserve (US Fed) could start increasing interest rate as early as March 2022 and shrink its balance sheet in response to increasing inflation, said James Bullard, President, Federal Reserve Bank of St. Louis on 06 January 2022. The .....
Is housing market going to crash in 2022?
January 14, 2022 01:00 AM PST| By AayushHighlights The year 2021 had been one of the best years for housing markets across the globe. The exorbitant rise in housing prices could be majorly attributed to the unprecedented monetary stimulus given by central banks. Mortgage loan compan.....
Home loan commitments bounced back in November 2021, says ABS
January 13, 2022 07:18 PM PST| By Akanksha VashishtHighlights The easing restrictions prompted borrowers to flock to the banks for new loans, especially for the purpose of housing financing. The momentum in construction is yet to build up, which possibly explains why property prices are going o.....
Will Bank of Canada hike interest rates sooner than expected?
January 13, 2022 01:43 AM PST| By Shreya BiswasThe Bank of Canada (BoC) is set to address the country this month-end, on January 26, and some market analysts believe that the top lender will announce raised benchmark interest rates then. The Canadian central bank had decided to lower its inter.....
US inflation is running hot; how it could impact Aussies
January 13, 2022 01:43 AM PST| By AayushHighlights Currently, the US inflation stands at 7%, highest since 1982. US is the world’s largest economy and anything that happens there, triggers a ripple effect on several other economies. With the interest rate regime starting to sh.....
