CANBERA (dpa-AFX) - The Australian dollar firmed against its major counterparts in the Asian session on Thursday, as the nation's unemployment rate fell in December and on hopes of fiscal support
Sky News Political Editor Andrew Clennell says there is still a "very bumpy ride" ahead in terms of the nation's economic recovery this year.
Mr Clennell assessed the Labour Force data provided by the Australian Bureau of Statistics, looking at unemployment rates across the country and in individual states and territories.
Nationally, Australia's unemployment is 6.6 per cent, down from 6.8 per cent.
New South Wales has an unemployment rate of 6.4 per cent, as does South Australia.
Queensland has the highest unemployment rate across the country, at 7.5 per cent.
Tasmania sits at seven per cent unemployment, while Western Australia is at 6.2 per cent and the Northern Territory is at 5.4 per cent.
The ACT has the lowest unemployment rate across the country, sitting at 3.7 per cent.
Victoria is sitting at 6.5 per cent unemployment.
CANBERA (dpa-AFX) - Asian stocks rose broadly on Thursday after Joe Biden was sworn in as the 46th U.S. President, helping lift hopes for more fiscal stimulus to fight the coronavirus-led economic
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Euro Climbs After ECB Maintains Interest Rates, Emergency Bond Buying Scheme The euro spiked up against its major counterparts in the European session on Thursday, as the European Central Bank left its key interest rates and the size of the pandemic emergency purchase programme unchanged and signaled its willingness to act further to help counter the negative pandemic shock on the inflation target.
The Governing Council maintained the main refi rate at a record low of zero percent and the deposit rate at -0.50 percent. The marginal lending facility rate is at 0.25 percent.
“The Governing Council expects the key ECB interest rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently close to, but below, 2% within its projection horizon, and such convergence has been consistently reflected in underlying inflation dynamics.”