The ASX closed lower on Tuesday as Donald Trump's tariffs on goods from Canada and Mexico took effect, and as duties on Chinese goods were increased. Catch up on the day's events and insights from our business reporters on the ABC News live markets blog.
The ASX closed lower on Tuesday as Donald Trump's tariffs on goods from Canada and Mexico took effect, and as duties on Chinese goods were increased.
The BCSA enables the exchange of local currencies between the two central banks with a value of up to AUD10 billion and the corresponding IDR.Australia's biggest sheep station has sold for an undisclosed sum to a privately owned company based in the United Kingdom. The concept of sortition is appealing , in which public officials would be selected at random by lottery, to positions that only existed for a few years, because it could help to prevent the emergence of career politicians and party politics. But then, as the ancient Athenians discovered, that was no bulwark against the election of people who had no idea what they were doing.
At a time when US GDP estimates are being slashed, economists are busily adjusting their forecasts upward for tomorrow’s Australian Q4 GDP after today’s better-than-expected net exports data. He said the first stage of oligarchy is when the rich in society introduce legislation that prescribes a minimum amount of property as necessary for holding political office, and they'll force that measure through by armed violence if they haven't already got their way by using terrorism.
"You can't get the protection of a safe harbour unless you’ve got your books, records and some key liabilities in order. In the RBA Board meeting minutes today, the board members discussed how the recent growth in real incomes may make their fight against inflation harder, if it means people start spending more.
Jason Harris, professor of corporate law at the University of Sydney, said it's very likely Star is insolvent and using "safe harbour" provisions to continue operating. While the NSW and Queensland governments have said they won't bail out the casino operator, that doesn't necessarily mean the doors would close with no intervention.
Members considered the staff’s judgement that the easing in labour market conditions since late 2022 had at least stalled and may even have reversed a little in late 2024. Members also considered whether the recent easing in inflation at a time of subdued growth in activity was attributable to someSome weight had been put on these arguments in the central projection, pushing down a little on the inflation forecast.The members noted how underlying inflation was forecast to return to the 2-3 per cent range earlier than expected, with staff taking some signal from the weaker-than-expected December quarter inflation outcome.
. Members noted that a broad range of labour market indicators had strengthened over prior months and that the staff had lowered their forecast for the unemployment rate growth might pick up more quickly than forecast Members tended to place more weight on the downside risks to the economy, and on the possibility identified by the staff that capacity in the labour market might be somewhat greater than embodied in the central projection.
The Australian dollar had depreciated since November 2024, by 4 per cent against the US dollar and 2 per cent on a trade-weighted basis. , and consensus forecasts about global growth haven't changed yet because everyone's waiting to see what will happen, withInflation had continued to ease in most advanced economies, but the imposition of tariffs could potentiallyMembers noted that the ongoing uncertainty around US Government policy settings meant that Consensus global growth forecasts had not yet changed materially.
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