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SYDNEY: Australia’s top central banker said yesterday coronavirus lockdowns would cause a sharp contraction in the economy this quarter but was confident activity would rebound quickly once restrictions were eased in the December quarter.
SYDNEY: The Australian dollar slipped on Tuesday after the head of the country's central bank dismissed market pricing of rate hikes in 2022 and 2023, even as he predicted a strong rebound for the economy into next year.
RESERVE Bank of Australia (RBA) governor Philip Lowe has a coffee mug in his office inscribed with the words “half full.” Lowe says he’s an optimist about next year, as do many of his peers. They’ll have to make it through 2021 first.
BRISBANE: Australia’s central bankers are set to revisit the question of whether to delay a planned taper of bond purchases as a worsening outbreak of the Delta variant dims prospects of a rapid economic rebound.
THIS week is heavy on economic data with the announcement of the overnight policy rate (OPR) scheduled for Thursday and industrial production index, manufacturing sales, and wholesale and retail trade figures coming out on Friday.
THE Australia and New Zealand dollars were headed for weekly gains on Friday, as signs of progress in both countries to rein in the pandemic raised hopes their economies were closer to reopening.
SYDNEY: Australia’s treasurer has asked the central bank to consider forcing large and medium-sized banks and debit card issuers to provide multiple network options for merchants to route “tap-and-go” payments.
The Australian government is considering new laws that would tighten the regulation of digital payment services by tech giants such as Apple and Alphabet’s Google.