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Australia set to welcome back Chinese group tours
Today Australia has been reincluded on China’s list of approved outgoing group travel destinations. Australia’s return to China’s Approved Destination Status (ADS) scheme, for the first time since borders re-opened, is welcome news for our nation’s tourism operators, and will provide a boost for the visitor economy, further supporting the sector’s ongoing recovery. This is another positive step towards the stabilisation of our relationship with China. Prior to the pandemic, China was the largest and most valuable inbound traveller market for the Australian visitor economy. In 2019, more than 1.4 million ... (full story)
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Key facts: Monthly change: Food prices fell 0.5 percent in July 2023. After seasonal adjustment, they fell 1.1 percent. In July 2023 compared with June 2023: • fruit and ...
New Zealand’s manufacturing sector slipped further into contraction during July, according to the latest BNZ – BusinessNZ Performance of Manufacturing Index (PMI). The seasonally ...
The USD/JPY continued to march on towards its June high of 145.00, after the initial dollar selling was bought in that aftermath of the inflation data. Dollar regains poise after ...
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The RBA’s main focus over the past year or so has been to get on top of the highest inflation rate in more than 30 years. We have made progress here and things are moving in the right direction, but it is too early to declare victory. At the previous hearing, I spoke about why it was so important that inflation returns to target and that we ensure this episode of high inflation is only temporary. I would like to reinforce that message today. High inflation is corrosive to the healthy functioning of the economy and it makes life more difficult for everybody, especially those on low incomes. It increases income inequality and eats away at people’s hard-earned savings. And, if high inflation does become ingrained in people’s expectations, history teaches us that the end result is even higher interest rates and even greater unemployment to bring inflation back down. It is for these reasons that the Reserve Bank Board remains resolute in its determination to return inflation to the 2–3 per cent target range within a reasonable timeframe and will do what is necessary to achieve that outcome. Inflation in Australia peaked late last year at 7.8 per cent. Since then, it has declined to 6 per cent and we expect further declines over the quarters ahead. Our central forecast is for CPI inflation to be around 3¼ per cent by the end of next year and to be back within the 2–3 per cent target range by late 2025. Within the aggregate inflation figures there are divergent trends, as there are overseas. Goods price inflation has slowed considerably as supply chain issues have been resolved and the demand for goods has eased. By contrast, the prices of many services are continuing to increase strongly and the momentum in rent inflation is particularly strong. There are also large increases in electricity prices taking place in many parts of the country. Another common feature across countries is that the high level of demand for goods and services has meant that labou post: RBA'S GOV. LOWE: ADDITIONAL TIGHTENING OF MONETARY POLICY MAY BE REQUIRED TO GUARANTEE THAT INFLATION RETURNS TO TARGET WITHIN A REASONABLE TIME FRAME. post: RBA’s Lowe: Things Central Forecast Is For #CPI #Inflation To Be Around 3.25% By End-2024, Back Within 2% – 3% Target Range By Late-2025 - Central Scenario Sees Subdued Economic Growth For Rest Of 2023 Before Gradually Picking Up To Around 2.25% By End-2025 post: RBA'S LOWE: WE EXPECT EMPLOYMENT TO CONTINUE TO GROW, BUT BELOW THE RATE OF GROWTH IN THE LABOUR FORCE #News #Markets #RBA #live post: RBA'S GOV. LOWE: THINGS ARE IMPROVING, BUT IT IS TOO EARLY TO DECLARE VICTORY OVER INFLATION.
The August Monetary Policy Statement should be another “steady as she goes” affair. The RBNZ communicated a strong on-hold stance in the last Monetary Policy Statement in May and ...
Iran has moved five US citizens out of the notorious Evin prison in Tehran and put them under house arrest, potentially opening the way for a release of prisoners and a wider ...
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- Posted: Aug 10, 2023 7:21pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,028