The Central Bank of Australia has released the minutes of the last meeting, which was held this month. The document, in particular, says that it is too early to discuss the curtailment of the asset purchase program. This program supports the Australian economy. It will be necessary until the country's economy returns to its pre-crisis state. According to the RBA forecast, the full normalization of the situation in the country's labor market, as well as the achievement of the target value for the level of inflation, will occur no earlier than 2024. The meeting participants suggested that in the coming years, the wages of Australians will grow. Currently, the country's economy is moving from recovery to growth. The protocol also states that the exchange rate of the national currency changes in a narrow range. A significant rise in the price of some commodities did not have a serious impact on the dynamics of the Australian dollar. The national currency is supported by an effective monetary policy, which is carried out by the Central Bank of the ...
According to Markit Economics, activity in the Australian manufacturing sector continues to grow. However, the pace of this growth has slowed down slightly. The PMI value fell this month to 51.7 points, which was the lowest level of the indicator for the last 14 months. In July, it was at the level of 56.9 points. The survey participants reported a negative impact on the production of supply disruptions. Demand has also declined. This is evidenced by a decrease in the volume of new orders. The deadlines for the execution of applications by suppliers have increased. At the same time, they are growing at the fastest pace since April last year. The degree of price pressure decreased slightly in August. However, production costs grew at a rate that is significantly higher than the average value. Despite the existing problems, many representatives of companies positively assess the prospects for the next 12 months. The PMI in the Australian services sector fell this month by 0.9 points to 43.3 ...
Data published by the Australian Customs Administration shows an increase in the country's foreign trade surplus. At the end of June, it amounted to $10 billion 496 million, which is $51 million more than the experts' forecast. In the previous month, the surplus amounted to $9 billion 269 million. Experts note that Australia has managed to maintain a profit on the foreign trade balance for more than 40 months in a row. This indicates a high demand for its products from countries that are Australia's main trading partners. In June, the growth rate of export deliveries in monthly terms slowed to 4%. According to the results of the previous month, the volume of Australian exports increased by 6%. Imports rose by 1% in June after rising by 3% in May. According to Moody's, Australia is on the list of countries with moderate economic losses from the coronavirus pandemic. Its economy is gradually ...
The Canadian Bureau of Statistics reported the largest increase in inflation in Canada in 10 years, driven by higher prices for residential real estate and passenger cars. According to the published statistics, consumer prices in May of this year increased by 3.6% compared to the same month of the previous year. Compared to the 3.4% annual inflation recorded in April, the annual price increase has strengthened. The economists ' forecast suggested an increase in inflation to 3.5%. Inflation in the country has increased, despite the fact that last month a new sharp jump in people infected with the coronavirus forced the Canadian authorities to re-impose restrictions. In June, most regions began to gradually remove these restrictions. The consumer price index for ordinary shares, which is closely monitored by the Bank of Canada, was 1.8% in May, while economists had forecast it at 1.9%. The Bank of Canada has set a target range of 1-3% for inflation. The regulator's immediate goal is to achieve 2% inflation. The Central Bank expects a reduction in inflation from the level of 3% no earlier than in the ...