Money No rates move expected as RBA meets

04:38  06 february  2018
04:38  06 february  2018 Source:

Milligan reportedly set for million-dollar move to Al-Ahli

  Milligan reportedly set for million-dollar move to Al-Ahli Melbourne Victory and Socceroos midfielder Mark Milligan is reportedly set for a $1 million transfer to Saudi Arabian club Al-Ahli. A potential transfer for the former Victory captain was leaked last week with a then $300,000 offer rejected by the club with conflicting reports suggesting the deal was done.But The Age is now reporting that a far more lucrative million-dollar move has been accepted with Milligan unlikely to play again in a Victory shirt.Prior to returning to Victory in the off-season, the 32-year-old had attempted to secure a move to Europe but was held back by visa issues.

AUSSIES can expect to see no RBA cash rate moves until 2017, helping borrowers cull debt while doing little for savers. The Reserve Bank of Australia today meets for the final time this year and ING Direct’s treasurer Michael Witts said households carrying debt should expect “365 days of

The Reserve Bank is expected to keep the cash rate at 1.5 per cent next week, but after two cuts so far in 2016 economists have not ruled out another before Christmas. The monthly board meeting will be the first under new RBA governor Philip Lowe

Weak inflation and a strong $A are expected to help stay the RBA's hand when it considers interest rates in its first board meeting of 2018.© AAP Image/Dave Hunt Weak inflation and a strong $A are expected to help stay the RBA's hand when it considers interest rates in its first board meeting of 2018. Economists expect no move on official interest rates from the Reserve Bank of Australia when its board meets for the first time in 2018 on Tuesday.

Persistently weak inflation is likely to stay the RBA's hand on rates until at least the end of 2018, many economists believe, with weak inflation a key component in the bank's deliberations.

When the RBA board convenes in Sydney to consider Australia's cash rate, expectations are that the weak December quarter inflation reading of 1.9 per cent - stubbornly below the bank's two-to-three per cent target range - will keep the rate unchanged at a record low 1.5 per cent.

Stronger Aussie a bump on RBA's slow path back to normal

  Stronger Aussie a bump on RBA's slow path back to normal Australia's dollar - and monetary policy plans - are once again caught up in the shifting tide of global finance, with the currency pushing to two-and-a-half year highs.The Aussie has lifted by more than US6¢ since early December – or 8 per cent – to push firmly above US81¢, its loftiest level since May 2015. That brings its gains in 2017 to 3.9 per cent against the greenback, or around US3¢.

Reserve Bank of Australia ( RBA ) board members come to a consensus on where to set the rate . Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation. A higher than expected rate is positive/bullish for the AUD

The Reserve Bank of Australia in its last monetary policy meeting of this year kept the official cash rate unchanged at 1.50% for 15 successive meeting , as widely expected . This hinted that the RBA is hoping a pickup in inflation over the near-term.

Economists expect the next move on interest rates will be higher - a trend already happening in the United States - but Commonwealth Bank chief economist Michael Blythe says the cash rate should remain firmly fixed at 1.5 per cent on Tuesday.

Some economists have tipped a May rate rise but most see a move in November at the earliest, or not until early 2019.

Mr Blythe said the RBA board will be confronted by positive factors including US President Donald Trump's economy-boosting tax cuts, stronger global commodity prices, improvements in Australia's jobs market and a slowdown in the once-superheated housing market.

"Any Board member running their eye down this checklist would probably agree that the next move in interest rates is up," Mr Blythe said in a research note.

"But they would also agree that there is no urgency to act."

Stock market slammed as Wall Street jitters persist .
Stocks posted sharp losses Thursday with the Dow shedding 1,033 points, as higher interest rates continued to rattle investors. The Dow Jones Industrial Average tumbled about 4.15% to 23,860, notching its second-worst point drop in history. The S&P 500 fell 100 points, or 3.75%, to 2,581. The Nasdaq Composite was down 274 points, or 3.9%, at 6,777. The sell-off pushed the Dow and S&P 500 into correction territory, when stocks fall at least 10% from their highs.U.S. equities extended their losses in a week overtaken by wild swings in the stock market.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!