Swati Pandey

Australia's stalled migrant boom derails golden economic run

4:37am IST

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.

Negative rates, extra QE unlikely in Australia as economy reopens: RBA

28 May 2020

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.

Australia slashes costs of COVID-19 job subsidy to $46 billion

22 May 2020

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).

New Zealand discussing 'helicopter money' handouts to stimulate economy

22 May 2020

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.

Fitch cuts Australia's sovereign outlook to negative, affirms 'AAA' rating

22 May 2020

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.

Australia economic recovery riding on COVID-19 medical breakthrough: RBA

21 May 2020

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.

Australian retail sales dive a record 17.9% in April: ABS preliminary estimate

20 May 2020

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.

GLOBAL MARKETS-Asia shares rally on vaccine hopes, oil retreats after early gains

19 May 2020

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 moves higher.

GLOBAL MARKETS-Asia shares, oil rally on vaccine hopes, euro at 2-week highs

19 May 2020

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.

New Zealand central bank could expand, extend QE: official

19 May 2020

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.

World News