This year, UK private-sector employers are planning to give staff a basic annual pay leap of 2…
Dismal consumer mood in Australia might result in RBA rate cut soon
Australian customers have become pessimistic in a one-two punch to the Australian economy already facing an abrupt property downturn along with anemic wages surge, increasing the risk of an interest rate trim as soon as next month.
Decelerating global surge as well as a trade clash between China and America made Australia's key financial institution consider an easing.
That radical policy change by the country’s major bank was underscored by Wednesday’s poll that revealed that the Melbourne Institute and Westpac Bank index of customer sentiment headed south by 4.8% this month in contrast with February’s outcome of 4.3%.
Compiled from a poll of 1200 respondents, the index headed south by 4% from 2018. It means that optimists have been already outnumbered by pessimists.
It steeply contrasted with the cautiously optimistic customer mood in 2018.
The figures showed up a day after in February a closely-watched measure of Australian business conditions tumbled below the long-run average, suppressed by dives in sales and corporate profitability.
The business and consumer confidence polls actually confirm the weakening in Australia’s economy lately and hint at subdued conditions.
Notwithstanding the RBA's doggedly neutral stance, in the official cash rate by August domestic money markets are absolutely priced for a 25-basis point trim.
As a matter of fact, the Australian dollar inched down by about 0.4% ending up with $0.7049 as the consumer poll emboldened rate doves, making its way to a recent two-month dip of $0.7030.
One reason for the dismal sentiment in the report was a steep deceleration in the A$1.9 trillion economy in the second-half of 2018, in part because of the housing downturn.
The UK’s key inflation rate rallied in February, although stayed close to January's two-year minimum, assisting customers to preserve their spending power even as Brexit was still uncertain…
The Monetary policy committee of the Bank of England will vote on the level of interest rate and release its monetary policy summary on March 21, at 14:00 MT time.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…