Swan warns banks to ease mortgage strain, urges customers to switch away from risky loans in Australia Read more
However, with an interest rate r비욘드 엣지 카지노 를 털어 라ise set for the middle of next month and uncertainty over the state of the global economy and rising Chinese inflation, the economy may be pushed deeper into negative territory.
Some economists say Australia may also lose the advantage of the low dollar – as the country’s currency, the U.S. dollar, has fallen against the Australian dollar in recent weeks, forcing overseas investors to look elsewhere for investment opportunities, including in South Africa’s rand and gold bullion.
“We can’t allow this to get out of hand and it’s the best thing we can do to help our economy,” said the Australian dollar index, which rose 0.3% on Wednesday, hitting a five-year low of 99.87.
“What I think is happening is that banks are starting to really panic about interest rate hikes,” said the economist, referring to the Bank of Australia’s decision to hold interest rates at record lows over the next five years to avoid having to cut rate by more than 5%.
The global financial crisis caused a global price rout, with some markets around the world losing their grip on U.S. dollars and dropping prices, particularly in emerging markets. But Australia also saw the currency decline by nearly 11% against the Australian dollar in September amid concern it might take longer than originally forecast to hit a new record low of 94 cents (USD) from last month’s record high of 98 cents in September.
Since then, the dollar has rallied back above 90 cents.
The dollar was trading around 80 cents against the yen and around 85 cents against the euro during the month of August and September, and remains between 87 and 94 on average.
“Australia’s monetary policy hasn’t really done as much to st우리 바카라imulate the Australian economy as people would hope,” said Andrew Mitchell, head of economic strategy at Macquarie in Melbourne. “I do feel there is a bit of uncertainty about the global economy and I’m seeing some banks preparing for the low interest rates environment and thinking it’s one week at most before we do it again,” he said.
Australian shares fell 1.6% on Tuesd클럽 골드 카지노ay, while shares in Japanese manufacturers hit an all-time low.
The recent drop in the value of the Australian dollar was seen in Asian markets, with Japanese yen weaker against the dollar.
Australia has been hit by the ongoing economic fallout from the global financial crisis that began in the global financia