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The Australian dollar touched the lowest level since early July, extending its decline after domestic labor data pushed traders to scale back expectations of interest rate increases from the Reserve Bank of Australia.
Australian unemployment came in stronger than expected in September and the economy shed jobs, pointing to a loosening in the labor market that gives the Reserve Bank scope to assess whether it needs to raise interest rates further.
Australia's central bank raised its cash rate to 4.60% as inflation hit 4.0%, a move that supports the AUD but pressures housing and equities. The post Why Australia’s Rate Hike Matters for US Investors appeared first on The Rio Times.
Reserve Bank of Australia lifts benchmark rate to 4.6 percent amid stubborn inflation.
Australia’s auction clearance rate declined to a 10-week low as a long weekend in Melbourne and the threat of higher borrowing costs weighed on sentiment.
Australian unemployment climbed further in August even as the economy added more jobs than anticipated, just days before the Reserve Bank meets to weigh resuming interest-rate increases.
New planning safeguards raise an uncomfortable question: what happens to the people living next door today?
Supporters call it visionary. Critics see it as a costly mistake.
Online sellers could be overlooking a key distinction that affects their tax obligations.
Decades after the post-war boom, some Australians are facing a reality not seen since the 1940s.