39,100 New Jobs Created in Australia in January
The Australian Bureau of Statistics announced yesterday that in January 39,100 new jobs were created – more than double the number that was expected.
The unemployment rate for January stood at five percent, the lowest percentage in six and a half years. These figures prove that the Australian economy is going from strength to strength.
Even as this is the case, the leading Australian bank Westpac, has set out its monetary policy view, believing that the reserve bank of Australia will lower the benchmark interest rate later this year. This belief is placed on the bank’s statement that the risk in the change of the position of the labour market may be the reason for this decrease.
Economic growth below what was anticipated, together with weak inflation, are singled out as the main reasons for this forecast by Westpac. In reaction to this disclosure, the Australian Dollar ended up losing ground to major world currencies.
The full report can be seen here .
Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or an investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.
Everything posted herein is the Personal Opinion of the Author(s) and does not represent a statement made by TeleTrade. TeleTrade is providing this for informational purposes.
22 February 2019, 08:48 Philip Lowe on the Australian Economy
21 February 2019, 08:24 Brexit - Progress is Being Made
|remaining time till the new event being published|
- Former Fed chair Yellen: yield curve may signal need to cut rates, not a recession
- ECB governing council member Coeure: ECB is not at the limit of what it can do yet on monetary policy
- Dallas Fed Manufacturing Index drops less than expected in March
- Germany Gfk consumer confidence index unexpectedly fell