Economic Outlook

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Australia: The Australian economy appears to have stumbled into Q4. Growth outlook is unchanged; GDP forecasts 2.3% in 2012-13 (below Commonwealth Treasury and RBA’s 3%) and 3.0% in 2013-14 (in line with Treasury’s 3% and RBA’s 2¼-3¼%). Weighing on near-term activity will be slowing mining investment, a still high AUD,…

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RBA holds cash rate

By | RBA Rates, Uncategorized | No Comments

Surprising the majority of economists yesterday, and against a 6 year “tradition” of lowering interest rates on Melbourne Cup Day, the Reserve Bank yesterday kept the official cash rate on hold at 3.25%. In his statement explaining the decision, Mr Stevens was more positive about the outlook for the US…

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