Reserve Bank of Australia

Aussie jumps after Reserve Bank of Australia abandons easing bias

The RBA said a lower currency will aid the economy if sustained. Photo: Reuters

The Australian dollar stole the limelight on Tuesday, surging over half a US cent after Australia’s central bank surprised some traders by dropping its bias towards easing rates.

Tuesday, 4 February, 2014, 1:58pm

Private schools, dental visits fuel Australian inflation, pushing interest rate cuts off the table

The days are numbered for the Reserve Bank of Australia's easy-money policy. Photo: AFP

The laudable desire of Australians to be well educated and healthy is proving an expensive one, as escalating costs add to inflationary pressures even as the broader economy slows.

The stubbornness of domestic inflation is proving most unwelcome to policymakers who want to keep interest rates at rock-bottom levels as Australia struggles through the autumn of a historic mining boom.

3 Feb 2014 - 3:18pm

Australian dollar likely to fall materially, says central bank chief Glenn Stevens

Weakening terms of trade will drive the Australian dollar down. Photo: AFP

Australia’s top central banker said on Tuesday it was likely the Australian dollar would fall materially in the future given the country’s declining terms of trade, a shift that would be welcome to trade-exposed sectors of the domestic economy.

29 Oct 2013 - 2:04pm 1 comment

Boost in Australian jobs eases pressure for rate cut

Glenn Stevens, governor of the Reserve Bank of Australia. Photo: Bloomberg

Australia unexpectedly boosted payrolls last month and unemployment declined as the job market withstood a weaker domestic outlook, prompting traders to push back bets on an interest-rate cut.

14 Jun 2013 - 3:49am

Australian growth forecast cut to 2.5pc

The Reserve Bank of Australia said it expected growth of 2.5 per cent and inflation of 2.25 per cent for the year to December 31, compared with forecasts in February of up to 3 per cent for both. Photo: AFP

Australia's central bank scaled back its inflation and growth forecasts yesterday, warning of a subdued outlook as the commodities-driven economy transitions away from mining.

The Reserve Bank of Australia said it expected growth of 2.5 per cent and inflation of 2.25 per cent for the year to December 31, compared with forecasts in February of up to 3 per cent for both.

11 May 2013 - 3:08am

Australia to invest foreign currency assets of A$1.9b in Chinese bonds

Philip Lowe, the deputy governor of Australia's central bank.

The People's Bank of China (PBOC) has approved an initial quota for the investment, the first time that the Reserve Bank of Australia (RBA) would have invested directly in a sovereign bond market of an Asian country other than Japan, Philip Lowe, the RBA's deputy governor, said yesterday at the Australian Chamber of Commerce in Shanghai.

25 Apr 2013 - 5:37am

China reportedly involved in online hacks of Australia central bank

Computer networks at the Reserve Bank of Australia had been hacked, some reportedly by Chinese-developed malware searching for sensitive information, officials said yesterday.

12 Mar 2013 - 3:53am

Australia home prices may see rise by up to 10pc

The Reserve Bank of Australia has cut the cash rate by 1.75 percentage points since November 2011 to match a 50-year low. Photo: Reuters

Australia's flagging property market is poised to get a boost from record low interest rates and a housing shortage that could increase prices by as much as 10 per cent this year.

9 Jan 2013 - 3:26am

Reserve Bank of Australia cuts interest rate to global recession low

Reserve Bank of Australia. Photo: AFP

The Reserve Bank of Australia has cut its benchmark interest rate to the half-century low set during the 2009 global recession.

The move comes as hiring falters and an elevated currency hurts industries, such as manufacturing and tourism.

5 Dec 2012 - 3:12am

Australia’s central bank holds rates at 3.25pc

 Reserve Bank of Australia governor Glenn Stevens says Australia’s stance of monetary  policy is appropriate for the time being. Photo: Bloomberg

Australia’s central bank kept its main cash rate steady at 3.25 per cent on Tuesday, surprising some in markets who had looked for a cut given an uncertain global outlook, a high local dollar and lower export prices.

6 Nov 2012 - 1:00pm

Many happy returns

Hong Kong investors who took a punt on the Australian dollar earned high rates of return last year - and although the ride may be choppy, there is more to come, say currency watchers.

18 Mar 2008 - 12:00am

Australia awaits bank's next move

Today's expected interest rate rise could tip the cooling residential market even further in the buyers' favour

Australian residential property is suddenly a buyers' market after several years of outstanding growth in asset values.

6 Apr 2005 - 12:00am

More aussies bought

The Australian central bank bought A$2.6 billion (about HK$12.41 billion) more of the Australian dollar than it sold last month, suggesting it spent about that much trying to arrest the aussie's slide to near record lows. That was close to the $3 billion some analysts estimated the bank had spent.

15 Jul 1998 - 12:00am

Further selling to force down gold

SPECULATORS are expected to attempt to drive the gold price even lower this week, after a 12-year low was reached on Friday.

The sale by the Reserve Bank of Australia (RBA) of 167 tonnes of gold, more than two-thirds of its gold reserves, has signalled a new selling phase for the yellow metal.

6 Jul 1997 - 12:00am