Australia gets rekt by the IMF as they predict how the economy would reduce by 6.7% this year, while unemployment would average 7.6 %. With the rest of the world by our side, the IMF further predicts that the state of the global economy isn’t exactly peachy either. With a decrease of 3%, this contraction …
Markets returning to normalcy The Australian share market has mounted an impressive comeback, lifting by 3.5% despite a two-day losing streak. At the epicentre of market increases are the banks, which accounted for a third of total gains. This follows the Australian Prudential Regulation Authority (APRA) advising banks to take a regulatory approach to COVID-19 …
Government foregoes surplus to keep Australians working All hopes of being “back in the black” were destroyed this week, with the Australian Government announcing a $130 billion stimulus package last Monday that aims to keep unemployment under control and small businesses afloat.
It’s widely known that the domestic economy is made of three things: household consumption, private sector investment and government spending. This week has revealed that the economy is built up on dominoes: when one falls, they all fall…starting with consumer confidence. Have you been thinking about that new flat-screen TV to Netflix your way through …
When it rains, it rains hard and it is those who cannot afford to stay afloat that find themselves trapped in the “economic tempest”. Amidst Prime Minister Scott Morrison’s announcement of ‘social distancing’ restrictions on crowds greater than 100, it is inevitably Australia’s small businesses and casualised workforce that bear the brunt of the economic …
Welcome back to another edition of your weekly Covid-19 Recap. It is no exaggeration to say that hysteria has gripped Australia. If the empty shopping aisles didn’t give it away, then the recent movements in global stock markets has made it abundantly clear. Trump’s recent announcement of a 30-day travel ban on all flights between …
The coronavirus has mutated yet again; from bats, to humans, and now even the ASX market. “The risk of a pandemic is upon us.” Scott Morrison was correct to say that Australia should prepare for a pandemic and we have well and truly felt it this week. Per the All Ordinaries Index, Australian shares have …
Stalling wages growth and the 11-year record low Aussie dollar – a sign of the times? If you were planning to go on exchange anytime soon, you might want to put your plans on hold. Because the last time the Australian dollar traded this poorly, was during the Global Financial Crisis in 2009.
Headlining the news these past few weeks, the Reserve Bank of Australia has maintained the cash rate at 0.75% despite ongoing concern from Coronavirus hindering short term growth. Last fortnights decision to maintain interest rates at a record low of 0.75 percent is reflective of the slowing economic conditions in Australia which are forecast to …
