Australian central bank assures public after outage
Full service has resumed at the Reserve Bank of Australia (RBA) after it suffered a power outage on Thursday.
Aussie shares posted solid gains and International banks expected to hike cash rate| Finance Report
The local market skipped higher today shaking off concerns about rising inflation and interest rates. Elysse Morgan on that, and why Australia is a lucky country. Subscribe: http://ab.co/1svxLVE Read more here: https://ab.co/3DzOR3v
ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It’s news when you want it, from Australia’s most trusted news organisation.
For more from ABC News, click here: https://ab.co/2kxYCZY
Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1
Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2
Like ABC News on Facebook: http://facebook.com/abcnews.au
Follow ABC News on Instagram: http://instagram.com/abcnews_au
Follow ABC News on Twitter: http://twitter.com/abcnews
Note: In most cases, our captions are auto-generated.
Australia’s central bank needs more interest rate hikes, says economist
Su-Lin Ong of RBC Capital Markets says the Reserve Bank of Australia may be in a “better place at the moment” if it had delivered a 50 basis point hike in the October meeting.
Australia’s Central Bank to ‘Do What’s Necessary’ to Hit Inflation Target
Australia’s central bank says it “will do what’s necessary” to bring inflation back down to its 2-3%. Reserve Bank Governor Philip Lowe, in an interview with Australian Broadcasting Corp., said this means the cash rate may climb to 2.5% at some point. Swati Pandey reports on Bloomberg Television.
Australian Dollar Falls After Central Bank’s Smaller-Than-Expected Rate Hike
The Reserve Bank of Australia surprised investors by raising interest rates at half the pace expected. The central bank raise the cash rate by 25 basis points to 2.6% — a result predicted by only a quarter of 28 economists surveyed by Bloomberg. The local currency fell following the announcement. Paul Allen and Paul Dobson report on Bloomberg Television with Rishaad Salamat and Haslinda Amin.