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Economy
Australia sees impressive retail spending and business conditions data
March 04, 2022 02:57 PM AEDT| By Akanksha VashishtHighlights The ABS recently released the data for retail trade in January and business conditions in February. Non-food online retail sales were higher in January compared to online food retailing. Businesses reported lesser supply-chain disru.....
NZ consumer confidence dips to lowest, will it bounce back soon?
March 04, 2022 01:56 PM AEDT| By ManikaHighlights Consumer confidence lowest ever, says ANZ-Roy Morgan survey Low confidence stems from households facing soaring inflation and high interest rates Kiwis’ confidence in the economy was at an all-time low in February. H.....
Biden’s State of Union: Will be first to halve deficit –key takeaways
March 04, 2022 05:26 AM AEDT| By Sanjeeb BaruahHighlights Biden vows to reduce the fiscal deficit to less than half from when he took office by the end of 2022. President Biden acknowledges the pain inflicted by inflation on ordinary people. Democratic senators have largely praised the pre.....
ABS update: Dwelling approvals drop in January while trade surplus improves
March 03, 2022 03:34 PM AEDT| By Akanksha VashishtHighlights Total dwelling approvals fell in January 2022, with private sector dwellings excluding houses leading the fall. The value of total approvals also declined, indicating a cool down in the red-hot property market. The balance on intern.....
Use of cash by Kiwis is fast declining, RBNZ Survey shows
March 03, 2022 01:49 PM AEDT| By ManikaHighlights Cash use by New Zealanders has declined sharply during the pandemic Only 63% use cash as against 96% in 2019 The number of Kiwis using cash is declining sharply, according to a new survey by the Reserve Bank of New Zealand (RBNZ.....
Bank of Canada hikes interest rates to 0.5%
March 03, 2022 02:47 AM AEDT| By Shreya BiswasThe Bank of Canada (BoC) said on Wednesday, March 2022, that it has decided to raise its interest rates to 0.5 per cent. This increase, which comes despite the ongoing economic tensions, is said to mark the first time Canada saw a hike in interest .....
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Will industry-wide sanctions be able to cripple Russian economy?
March 02, 2022 09:43 PM AEDT| By Sreenivas D AjankarHighlights Lots of sanctions have been imposed on Russia by several countries like the US, European Union, Australia, and the UK. Economic sanctions have become the most preferred tool to overcome geopolitical tensions and hurt the country&rsqu.....
Russia-Ukraine war impact on Asian economies
March 02, 2022 06:59 PM AEDT| By Toshiva JainHighlights The day Russia invaded Ukraine, stock prices in Asian countries experienced a steep fall. Russia is amongst the largest oil and natural gas producer, and the majority of the Asian nations depend upon the country for energy. Apart fr.....
Markets eye Fed rate hikes, will the RBA follow suit?
March 02, 2022 06:18 PM AEDT| By Akanksha VashishtHighlights Speculations are rife that the Fed might adopt an aggressive rate hike policy soon. Central banks across the globe are now recognising the need for slower growth in the economy. To raise interest rates, the RBA holds a condition to .....
Strong demand pushes Australia’s GDP growth to 3.4% in Dec 2021 Qtr
March 02, 2022 02:27 PM AEDT| By Akanksha VashishtHighlights Australia’s economic activity expanded by 3.4% during the December 2021 quarter. The surge in GDP was fuelled by a rise in private demand and increased household spending. The data shows that the economy recovered quite well f.....
No cash rate change for another month in Australia
March 01, 2022 04:39 PM AEDT| By Akanksha VashishtHighlights The central bank has maintained the cash rate at 10 basis points. The escalation of the Russia-Ukraine war has made commodities more expensive. Once again, the RBA has not given a fixed timeline within which it plans to increa.....
ABS update: Australia sees robust investor lending in January
March 01, 2022 03:11 PM AEDT| By Akanksha VashishtAustralians indulged heavily in housing investments during January, indicating the continued strength of the real estate market in the country. As per the Australian Bureau of Statistics (ABS), new investor housing loan commitments rose by 6.1% in .....
Australian property prices growth loses momentum in February
March 01, 2022 02:53 PM AEDT| By DaminiHighlights The growth in Australian property values is losing steam, with capital cities recording a sharp slowdown. Sydney posted the first-ever decline of 0.1% in property values since September 2020. Sydney and Melbourne have observed adver.....
What is SWIFT system & why is it crucial in the Russia-Ukraine crisis?
March 01, 2022 02:12 AM AEDT| By Kajal JainThe Russian invasion of Ukraine has brought the SWIFT, which stands for ‘Society for Worldwide Interbank Financial Telecommunication’, in the limelight for investors and other market enthusiasts. The United States, along with the Europ.....
Business confidence slumps on Omicron worries: ANZ Survey
February 28, 2022 02:54 PM AEDT| By ManikaHighlights Business confidence dips to 28 points Reflection of worries related to Omicron impact February is ninth straight month when business confidence was in negative Business confidence slumped in the month of February as Omicron imp.....
Retail spending soars in January 2022 following a December fall
February 28, 2022 02:50 PM AEDT| By Akanksha VashishtAustralians have continued retail spending this year after exhibiting a slight lull towards the end of 2021. The latest data from the Australian Bureau of Statistics (ABS) reveals that retail sales rebounded to rise 1.8% in January 2022, after a sl.....
Are open borders a fast fix for Australian tourism?
February 28, 2022 01:59 PM AEDT| By Toshiva JainHighlights Despite Australian borders reopening, few travel industry runners are not very hopeful of recovery just yet. The travellers now feel repellent to travel in and across Australia because COVID cases rise suddenly, and the governments c.....
Federal election 2022: Can Albanese run a better govt than Morrison?
February 26, 2022 01:37 AM AEDT| By ManishaHighlights Anthony Albanese, the Federal Opposition Leader, hopes to turf out Australian PM Scott Morrison at the election due in May. Albanese believes that Australia can come back stronger, more resilient, and more self-reliant followin.....
NZ to have quick rate hikes, signals RBNZ Governor
February 25, 2022 02:03 PM AEDT| By Team Kalkine MediaHighlights The Central Bank faces a tough choice of tackling inflation amid the pandemic. Some critics say that the Reserve Bank is moving too slow. An ANZ economist says it is a difficult balancing act. New Zealand central bank Governor .....
When did Australia last increase its interest rates?
February 25, 2022 01:37 PM AEDT| By Akanksha VashishtHighlights Australia is experiencing one of the longest periods of low cash rate maintained at 10 basis points. The rate hike expected this year would be the first in around 12 years of Australian history. The real effects of the government&rs.....
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