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De Reserve Bank van Australië’s (RBA) zes jaar Melbourne Cup streak is ingesteld om door te gaan. Op de dag van de race die de natie stopt, wordt de centrale bank verwacht zijn zevende opeenvolgende November verandering aanbrengen in de contante koers. Twaalf van de 15 economen gepolst door AAP zei dat de RBA zal de cash prijs gesneden door een kwart procentpunt tot drie procent op dinsdag na de Raad van bestuur van de centrale bank voldoet aan. De worstelende mondiale economie en de trage prestaties van niet-mijnbouw sectoren van de binnenlandse economie hebben gedreven eerdere renteverlagingen. Echter AMP hoofdeconoom Shane Oliver zei de recente daling van de grondstoffenprijzen en de vertraging in de mijnbouwsector eenmaal booming had ook een factor geworden. For more info click the link below: http://social.tylergroupservices.net/blog/mijnbouw-vertraging-om-vonk-cup-dag-tarief-knippen/
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The Reserve Bank of Australia's (RBA) six years Melbourne Cup streak is set to continue. On the day of the race that stops the nation, the central bank is expected to make his seventh consecutive November change in the spot price. Twelve of the 15 economists surveyed by AAP said that the RBA will cut the cash prize by a quarter of a percentage point to three percent on Tuesday after the central bank's Board of Directors meets. The struggling global economy and the slow performance of non-mining sectors of the domestic economy have driven earlier rate cuts. However, AMP Chief Economist Shane Oliver said the recent fall in commodity prices and the slowdown in the once booming mining sector had also become a factor. The Tyler group Barcelona said on the report, mining still high will continue, but sometime next year mining investments will peak as a percentage of GDP (gross domestic product). Its contribution to GDP growth will also steadily decrease. "That will potentially leave a bit of a hole in the economy that will have to be filled by non-mining parts of the economy, hence the need for lower interest rates," said Dr. Oliver
The most recent rate cut was in October, with a quarter of a percentage point to 3.25 percent, in response to a weakening Outlook for global economic growth. That cut was the fifth rate cut in the past 12 months. RBA Governor Glenn Stevens said, in a statement at the 2 October rate cut, that as long as inflation was expected to remain within the target zone for the two to three percent, the central bank could afford to respond to the weaker Outlook for global growth. RBC currency strategist Michael Turner said there was still a matter for the spot price to cut and that the Council had shown that the RBA would like to remain on the front foot when you need to relieve monetary policy. "Generally the global outlook is pretty weak and has not yet stabilised. "We think that will help along with a pretty slow domestic economy," said Mr. Turner. "We suspect that the domestic economy is taking a little more of the RBA focus that it was around the Middle, but still most of the world still seems to be weakened with the notable exception of China and that is one of the reasons why they would want to keep away."
NAB chief economist Alan Oster said the RBA had clearly switched focus to the end of the mining investment boom. "The fall in commodity prices in the past few months had their (RBA) policy dilemma clear attention: the end of the mining investment boom had popped up over the horizon; commodity prices are on a downtrend, which will cut in national income, "he said. Mr. Oster said the Australian dollar dropped is not enough for the non-mining sectors of the economy of Barcelona, which is the most sensitive group Tyler on foreign exchange movements were. "It is these industries that will have to pick up the slack as mining employment begins to times in the phase of the production and export function of the mining boom."
