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Australia Economy News

21 May 2019

Australia PM struggles to meet tax relief election pledge

Reserve Bank of Australia Governor Philip Lowe said the main reason for a downward shift in economic momentum was a slowdown in household consumption.

Australia budget deficit

15 Dec 2015

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.

16 Sep 2015

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.

02 Jun 2015

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.

Australia central bank

04 Nov 2014

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.

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