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RBA keeps interest rates on hold at historically low 0.1 per cent in May


RBA keeps interest rates on hold at historically low 0.1 per cent in May
Australia s interest rates will remain at the historic-low level of 0.1 per cent as the nation s central bank reserves its hand to lift rates in the wake of record house price growth.
The Reserve Bank of Australia (RBA) met today, choosing to maintain the current cash rate despite record new levels of home loan commitments and exploding property prices.
RBA Governor Philip Lowe indicated late last year that the central bank had forecast to keep rates at 1.0 per cent for a target of three years, instead preferring other economic measures to boost spending. ....

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Chinese Demand For Australian Iron Ore Still Booming Despite Trade Tensions


Chinese Demand For Australian Iron Ore Still Booming Despite Trade Tensions
Australian iron ore exporters aren’t feeling any effects of Beijing’s ongoing economic sanctions against Australian exports, as China’s colossal demand for the mineral drive prices up to a 10-year high.
Rio Tinto, an iron export giant, said their Australian iron ore assets had excellent operating performance in the first quarter of 2021.
In the report of the company’s first-quarter production results (pdf), it showed their iron ore exports increased by seven percent compared to the same quarter of last year.
“China’s industrial economy continues with strong momentum,” the report said. “Steel prices in China finished the quarter at decade highs as construction activity and steel demand in the first quarter… are at their highest since 2018.” ....

Jennifer Gordon , Josh Frydenberg , Marise Payne , Department Of Foreign Affairs , Victoria Initiative , Rio Tinto , Market Index , Times Photo , Getty Images , Chief Economist Shane Oliver , Wall Street , Foreign Affairs , Economist Jennifer Gordon , West Australia , Treasurer Josh Frydenberg , Australian Foreign Minister Marise Payne , Road Initiative , ஜெனிபர் கோர்டந் , துறை ஆஃப் வெளிநாட்டு வாழ்க்கைத்தொழில்கள் , விக்டோரியா முயற்சி , ரியோ டின்டோ , சந்தை குறியீட்டு , முறை புகைப்படம் , கெட்டி படங்கள் , தலைமை பொருளாதார நிபுணர் ஷேன் ஆலிவர் , சுவர் தெரு ,