RBA calls for a ban on surcharges for debit and credit card payments
Proposed Changes to Credit Card Fees Highlights Potential Savings Protection Banks argue that eliminating extra credit card charges could save consumers approximately $1.2 billion annually. Starting in July 2026, additional fees for debit and credit card payments via EFTPOS, MasterCard, and Visa will be removed. Additionally, the new RBA proposal suggests that businesses utilizing card […]
Australian Dollar continues to rise following RBA Bullock’s alert about inflation dangers
Australian currency faces challenges as RBA’s Bullock cautions about persistent inflation risks. China’s consumer price index saw a modest increase of 0.1% year-on-year, while it dipped by 0.1% month-on-month in June. President Trump is likely to announce significant tariffs, including a potential 50% tariff on imported copper and a staggering 200% on pharmaceutical imports. The […]
Australian Dollar stays low after RBA Meeting Minutes and China’s Manufacturing PMI
The Australian dollar saw a decline following the release of the RBA minutes from the May Monetary Policy Conference. China’s Caixin Manufacturing PMI dropped to 48.3 in May compared to 50.4 in April, indicating contraction. Despite worries surrounding the economy, the US dollar recovered some of its previous losses. The Australian Dollar (AUD) faced pressure […]
RBA Minutes: It is not the right moment to adjust monetary policy to an expansionary approach
RBA May Meeting Minutes Highlights The Reserve Bank of Australia (RBA) shared the minutes from its May monetary policy meeting, noting its decision to implement a 25 basis point (BPS) interest rate cut. Key Points from the Meeting The board weighed the options of cutting rates by either 25 or 50 bps, or even leaving […]
You might expect that after almost three years of being incorrect, the RBA would begin to doubt its economic approach. But it hasn’t.
RBA’s Shift on Interest Rates and Employment The decision by the Reserve Bank to cut interest rates on Tuesday came as a surprise to many. It seems like there might be more cuts coming, but the RBA still appears focused on the idea that more job losses are necessary to keep inflation in check. Perhaps […]
AUD/USD stays above 0.6400 after RBA rate cut, awaiting US Trump tax bill approval
The AUD/USD is expected to remain steady at 0.6420 in early Asia, following a 0.49% drop on Tuesday due to a rate cut by the RBA to 3.85%. The RBA’s decision to lower rates by 25 basis points was based on a more balanced view of inflation risks and growing global uncertainty. The governor indicated […]
Australian dollar falls as RBA reduces rates and cautions about global prospects
Australian Dollar Takes a Dip Following Rate Cut SYDNEY – The Australian dollar saw a decline on Tuesday, which seemed to reflect a shift in market expectations after the country’s central bank decided to cut interest rates, emphasizing the potential economic challenges posed by the ongoing World Trade War. The Reserve Bank of Australia has […]
Forex Update: RBA and PBoC lower interest rates, focusing on Canadian inflation statistics
News Brief for May 20th The Reserve Bank of Australia (RBA) and the People’s Bank of China (PBOC) both introduced interest rate cuts early Tuesday, which wasn’t exactly unexpected. Meanwhile, the US Dollar (USD) is finding it tough to hold its ground as market sentiment leans towards caution. Later, Statistics Canada will unveil the Consumer […]
Australian Dollar stays low after PBoC’s interest rate choice, attention on RBA
The Australian Dollar has seen losses following a reduction in its one-year loan prime rate from 3.10% to 3.00%. The Reserve Bank of Australia is anticipated to lower interest rates by 25 basis points soon. The US dollar has weakened after a credit rating downgrade by Moody’s from AAA to AA1. The Australian Dollar (AUD) […]
Dollar slips after US credit downgrade, Aussie reduces losses ahead of RBA
TOKYO (Reuters) – On Monday, the US dollar slid to weekly lows, while the yen, seen as a safe haven, gained ground as markets grappled with a surprising downgrade of US government credit ratings alongside growing trade tension concerns. Sentiment remains shaky. The Australian dollar rebounded after a three-day slump, anticipating a significant quarter-point cut […]