Australia PM struggles to meet tax relief election pledge, central bank urges stimulus
Reserve Bank of Australia Governor Philip Lowe said the main reason for a downward shift in economic momentum was a slowdown in household consumption.
May 21, 2019, 13:55 PM IST
Australia budget deficit blows out on commodity price hit
Slumping commodity prices and lower tax receipts will see Australia`s budget deficit balloon to Aus$37.4 billion (US$27.2 billion) this year, Treasurer Scott Morrison said Tuesday as he downgraded economic growth forecasts.
Dec 15, 2015, 13:36 PM IST
Australian economy expected to slow: Report
Australia is facing a period of slow economic growth likely to stretch into next year, according to a report released on Wednesday.
Sep 16, 2015, 12:52 PM IST
Australia's central bank keeps interest rates on hold
Australia on Tuesday kept interest rates at 2.0 percent after slashing them to a record low last month, and called for a weaker currency to help counter a sluggish economy struggling with soft business spending.
Jun 02, 2015, 16:32 PM IST
Australian central bank keeps interest rates at 2.5%
Australia`s central bank Tuesday kept interest rates at a record low 2.5 percent, maintaining an unchanged outlook for the country`s economy as it continued to call for a weaker currency.
Nov 04, 2014, 11:27 AM IST
