Australia's Central Bank Holds Cash Rates At Near-Zero Levels
Gulf Today|February 03, 2021
The Reserve Bank of Australia surprised markets by expanding its bond buying programme by another $76.4 billion to help strengthen economic recovery
Australia's Central Bank Holds Cash Rates At Near-Zero Levels

Australia’s central bank (CB) held cash rates at near-zero levels in a widely expected decision on Tuesday, but surprised markets by expanding its bond buying programme by another A$100 billion ($76.4 billion) to help strengthen the economic recovery.

At its first policy meeting of the year, the Reserve Bank of Australia (RBA) left its cash rates and the three-year government bond yield target at 0.1% while reiterating its commitment to not tighten policy until actual inflation is within its 2-3% target range.

The pledge to buy more bonds pulled yields on 10-year paper back to 1.115%, having hit a 10-month top of 1.19% early in the session. The Australian dollar eased to $0.7625 from $0.7660 before the statement.

“The Board remains committed to maintaining highly supportive monetary conditions until its goals are achieved,” Governor Philip Lowe said in a short post-meeting statement. “Given the current outlook for inflation and jobs, this is still some way off.”

For the RBA to meet its inflation target, wages growth will have to be “materially higher” than the 1.4% rate currently, he added.

“This will require significant gains in employment and a return to a tight labour market. The Board does not expect these conditions to be met until 2024 at the earliest,” the RBA chief said.

Bu hikaye Gulf Today dergisinin February 03, 2021 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Gulf Today dergisinin February 03, 2021 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

GULF TODAY DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
Bayern's bid for 10th German League title boosted by rivals' disarray
Gulf Today

Bayern's bid for 10th German League title boosted by rivals' disarray

Bayern are cruising unbeaten at the top of the league table under new coach Nagelsmann and their challengers from last season are in disarray. They have won their last nine matches in all competitions and scored at least three goals in each game

time-read
3 dak  |
October 01, 2021
Pakistan Pavilion at Expo spotlights Balochistan
Gulf Today

Pakistan Pavilion at Expo spotlights Balochistan

Visitors will get to see the strides women in Pakistan have made and the importance of their development

time-read
3 dak  |
October 01, 2021
Defence cooperation between UAE, Pakistan grows stronger
Gulf Today

Defence cooperation between UAE, Pakistan grows stronger

Sheikh Mohamed and General Bajwa discussed relations of friendship and joint coordination between the two countries in defence and military affairs

time-read
3 dak  |
October 01, 2021
England's Buttler reiterates to pull out of Ashes tour if not allowed to meet family in Oz
Gulf Today

England's Buttler reiterates to pull out of Ashes tour if not allowed to meet family in Oz

But whether the wicketkeeper-batsman also features in the five-Test Ashes series is open to doubt amid questions over the severity of COVID-19 restrictions confronting Joe Root’s men in Australia

time-read
3 dak  |
October 01, 2021
Balmain celebrates ten years with designer at Paris Fashion Week
Gulf Today

Balmain celebrates ten years with designer at Paris Fashion Week

An emotional recorded message by Beyonce opened the evening show, paying tribute to the French designer who she said strove to put diversity at the heart of his fashion

time-read
2 dak  |
October 01, 2021
Brazil's Palmeiras Advance To Copa Libertadores Final Again
Gulf Today

Brazil's Palmeiras Advance To Copa Libertadores Final Again

BELO HORIZONTE: Defending champions Palmeiras booked their place in the final of the Copa Libertadores on Tuesday, securing a batling 1-1 against Brazilian rivals Atletico Mineiro to advance on away goals.

time-read
2 dak  |
September 30, 2021
Chennai Look To Tighten Grip On Top, Hyderabad To Play For Pride
Gulf Today

Chennai Look To Tighten Grip On Top, Hyderabad To Play For Pride

Chennai are siting at the top of the standings with 16 points, having won eight of their ten matches. They are in stupendous form and have been unbeaten in the UAE leg of the tournament. CSK have notched up three victories on the trot to maintain their stranglehold on the summit

time-read
3 dak  |
September 30, 2021
Britain Deploys Soldiers To Deliver Fuel, Says Official
Gulf Today

Britain Deploys Soldiers To Deliver Fuel, Says Official

Petrol stations’ union says only 27% reported being out of gasoline while taxi drivers say there appeared to be little signs of the situation improving

time-read
3 dak  |
September 30, 2021
Cabinet Ministers Of UAE Sworn In At Qasr Al Watan
Gulf Today

Cabinet Ministers Of UAE Sworn In At Qasr Al Watan

The ministers expressed their appreciation for the trust of the leaders of the UAE

time-read
3 dak  |
September 30, 2021
Expo 2020 Star-Studded Opening Ceremony Will Mesmerise World
Gulf Today

Expo 2020 Star-Studded Opening Ceremony Will Mesmerise World

Opening ceremony viewing parties will take place across the country

time-read
4 dak  |
September 30, 2021