Australian shares log best day in seven weeks on Gulf peace hopes
Businesstimes News·Australia Rate Increases Stay in Play Despite Easing CPI — Update
MorningStar·- Australia's consumer-price growth slowed to 4.2% in April from 4.6% in March, partly due to a temporary fuel tax cut. - Transport costs declined 2.7% monthly but rose 6.6% annually, continuing to exert inflationary pressure above the Reserve Bank of Australia's 2.5% target. - The RBA raised its cash rate by 25 basis points and may consider further increases, with market expectations for an additional hike by the end of 2026.Australian shares notch two-week closing peak on Middle East peace hopes
Businesstimes News·Australian shares jump as weak jobs data tempers RBA rate-hike bets
Businesstimes News·Australia jobless rate jumps to 4-1/2 year high as RBA bets fade
Businesstimes News·- Australia's unemployment rate has risen to 4.5%, the highest since November 2021, indicating a cooling labor market that has led traders to lower expectations for further interest rate hikes. - Official data shows a significant deviation from expectations, with a decrease of 18,600 jobs instead of an anticipated increase of 15,000, reflecting economic weakness due to high borrowing costs and energy shocks from the ongoing Iran conflict. - Following the data release, expectations for the Reserve Bank of Australia's next rate hike have shifted from June to August, as economists emphasize the softened outlook for the labor market amid recent layoffs, particularly in the tech industry.Australia unemployment jumps to 4.5% in April, highest since November 2021
Investinglive·- Australia’s unemployment rate unexpectedly rose to 4.5% in April, the highest since November 2021, amid a loss of 18,600 jobs, contradicting the forecast of a 17,500 increase. - Full-time employment fell by 10,700 and part-time jobs decreased by 7,900, while the participation rate slightly declined to 66.7%. - This data complicates the Reserve Bank of Australia's inflation strategy, increasing the likelihood of pausing interest rate hikes in June, despite inflationary pressures from energy costs.