Tag: Glenn Stevens

Written by lookingbeyondborders

Australia’s Economic Growth Slows as Government Cuts Spending

Australia’s economy slowed last quarter as the government and consumers tightened spending, validating the central bank’s decision to cut interest rates yesterday. Third-quarter gross domestic product advanced 0.5 percent from the previous three months, when it expanded 0.6 percent, a Bureau of Statistics report released in Sydney today showed. The result compared with the median […]

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Written by lookingbeyondborders

Australia Feels the Sting of China Slowdown

The move by Australia’s central bank to lower interest rates from October 3 is the latest sign of pessimism about the prospects of the China-led resources boom. In announcing an unexpected cut to the official cash rate by 25 basis points to 3.25 percent, the Reserve Bank of Australia (RBA) indicated that the global outlook was […]

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