Bonds/Interest Rates

Consumer confidence improved in November and while it’s not the beginning of a new world, it’s still good news.

After months of careful language and sizeable rate cuts, the RBA today cut its growth prospections for the Australian economy.

China used the weekend meeting of G20 finance ministers to announce it was going to throw US$600bn at its slowing economy.

The Dow fell 443 points last night following more weak data and shenanigans across the pond.

The ABS October labour force numbers showed a surprise increase, but economists warn of a calm before the storm.

The Reserve Bank of Australia’s surprise 75bp cut shows just how keen it is to avoid a recession, shifting its focus from inflation to growth.

The CBA-AiG Performance of Services Index fell again in October indicating businesses in Australia are finding it tough going at present.

As the longest election campaign in history comes to a close Wall Street has wasted no time in expressing relief. Last night the Dow gained 300 points and commodity prices surged.

In cutting by 75 basis points today the RBA noted the sharp fall in the Aussie dollar may mean inflation takes longer than otherwise to ease.

The Reserve bank delivered a greater than expected rate cut this afternoon.