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FRANKFURT, Germany, Oct 4, 2023 (AFP) – Efforts to bring down inflation will take time, a senior European Central Bank official said Wednesday, warning that the eurozone had yet to fully feel the impact of higher interest rates. “While inflation continues to decline, it is still expected to remain too high for too long,” ECB vice-president Luis de Guindos said at a conference in Cyprus. The ECB last month raised interest rates for a 10th […]
TOKYO, Japan (AFP) — The Bank of Japan’s long-standing monetary easing policies are “appropriate”, its next governor Kazuo Ueda told parliament on Friday, suggesting no sudden changes to the bank’s stance when he takes the helm in April. Under current boss Karuhiko Kuroda, the bank has unleashed a raft of extraordinary ultra-loose policies — from a negative interest rate to spending vast sums on government bonds — in a bid to boost the sluggish economy. […]
SYDNEY, Australia (AFP) — Australia’s central bank held interest rates at a record low on Tuesday even as the economy grows strongly, with officials taking into account soft inflation figures and weak wages growth. The cash rate has been unchanged at 1.50 percent since the Reserve Bank of Australia last cut it in August 2016, to support non-mining industries as an unprecedented investment in resources waned. “The low level of interest rates is continuing to […]
SYDNEY, Australia (AFP)–Weak inflation, sluggish wage growth and high levels of household debt saw Australia’s central bank keep interest rates on hold at a record low on Tuesday. The Reserve Bank of Australia slashed the cash rate from November 2011 to August 2016 to 1.50 percent to boost the economy as it transitioned away from a mining investment boom and it has not moved since. Most economists are not expecting the bank to lift them […]
SYDNEY, Australia (AFP) — Australia’s central bank on Tuesday kept interest rates at a record low in its first meeting of the year, with inflation still soft and the outlook for household spending uncertain. The Reserve Bank of Australia has not adjusted rates since August 2016, following a series of cuts from November 2011 that took it to 1.50 percent in a bid to boost non-mining sectors of the economy. Governor Philip Lowe said in […]
