SYDNEY Australia's three decades of uninterrupted prosperity are coming to an abrupt end as the global coronavirus pandemic crashes one of its most lucrative sources of income – immigration.
SYDNEY Australia's economic downturn is likely to be less severe than first thought, meaning negative interest rates or extra quantitative easing measures will likely not be required, the country's central bank chief said on Thursday.
SYDNEY Australia on Friday halved the number of people expected to be covered by its coronavirus wage subsidy scheme due to reporting errors and after swiftly controlling the outbreak, a revision that will save the government around A$60 billion ($39 billion).
WELLINGTON/SYDNEY New Zealand is considering distributing free cash directly to individuals as a way of policy stimulus to help boost the economy reeling from a COVID-19 pandemic driven contraction, Finance Minister Grant Robertson said on Friday.
SYDNEY Fitch Ratings downgraded its outlook on Australia's coveted 'AAA' rating on Friday to "negative" from "stable", citing the heavy blow to the economy and public finances from the COVID-19 pandemic.
SYDNEY Australia's economic future was "unusually uncertain" while growth was expected to remain in the slow lane without a medical breakthrough to prevent and treat COVID-19, the head of the country's central bank said on Thursday.
SYDNEY Australian retail sales slumped in April after a record surge the previous month as widespread restrictions to curb the spread of the coronavirus hit demand for clothing, travel and dining out.
SYDNEY/HONG KONG, May 19 Asian shares extended
gains on Tuesday as more countries emerged from their economic
lockdowns and a successful early-stage trial of a coronavirus
vaccine cheered sentiment, although oil shed some of its early
SYDNEY, May 19 Asian shares jumped on Tuesday
and oil extended gains on optimism the global economy would
recover quickly following a successful early-stage trial of a
coronavirus vaccine, while the euro hovered near a two-week top.
SYDNEY New Zealand's central bank could expand its government bond buying programme further though it hopes to have more certainty in about three months' time on whether to go harder or ease back stimulus, a top official said on Tuesday.