Economics This Week

The major news this week has been the downward trend of the Australian dollar which for the first time in 6 years fell below 0.5 GBP and reach monthly lows against the Yen, US dollar and Euro. Despite this decline in our currency  the All Ordinaries bounced back from 2 days of decline and returned itself to trend after a rough few months earlier in the year.

This week also saw the release of some credit figures for April which show that while total credit growth is up 0.3%, it has primarily been driven by a 0.8% increase in housing credit rather than anything else. Business investment hasn’t budged and personal credit has in fact declined 0.1%. Despite the consensus that it takes 6 to 18 months for the effects of monetary policy to be felt in the economy it is definitely something the RBA will be thinking about this Tuesday.

Interesting Article

Finally, this week we have received a long anticipated article from our VP-Events, Ruark. Given the upcoming exams he has chosen to furnish us with a groundbreaking article titled University Results Matter. It has some interesting insights into what grades tend to maximise your income for a given amount of effort and also gives hope to those of us with no chance of achieving an HD average.

Big thanks to everyone that’s submitted an article this semester and remember if you’re interested in submitting one next semester email us at info@unswecosoc.com.