The Australian government has moved to guarantee all bank deposits, and all attempts by Australian banks to secure funding, following similar and decisive announcements from Europe.
Last week ended with a hopeful rally on Wall Street, but will the G7’s laundry list of good intentions turn into action?
The G7 has announced a coordinated effort which it believes is sufficiently comprehensive to halt the global financial market crash.
Given the likelihood of a deeper and longer slowdown in global growth Standard Chartered has revised down its growth forecasts for both Australia and New Zealand.
Brokers found the Bank of Queensland result very solid under the circumstances. But the circumstances have changed.
The IMF has cut its projections significantly for global economic growth this year and next, but Australia should be ok.
Standard Chartered sees increasing signs the global economic crisis is impacting on growth in Hong Kong.
Falling oil prices, a firmer USD and slowing demand signals continued weakness for coal prices.
Consumer Confidence in Australia has fallen sharply in October as the constant stream of bad financial news takes its toll.
A trading update from JB Hi-Fi shows the company continues to meet expectations for the early part of FY09.
