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The Reserve Bank has provided a somber1 assessment2 to the Australian economy in its quarterly update.In its statement of monetary3 policy,the RBA cut its worst forecast for the Australian economy this year by 0.75 percent to between 2.25 percent and 3.25 percent.The weekly growth outlook in pxx the unemployment rate is likely to rise further and hold there for longer.The outlook justifies4 the RBA surprise move to cut interest rate on Tuesday but the bank hasn't given any forwards guide into the rates,however says inflation would be an issue.
The Australian share market is set for a 12 straight days of gains.The All Ords index is up around two tenth of a percent or 12 points as is the ASX 200 index.
The major banks is giving back some of their recent record gains.BHP Billiton along with Rio Tinto and Telstra are all on the rise.Wall Street continues to run in rock step with global oil prices within overnight rise for crude driving healthy gains.
Spot gold prices in the Asian session are a little higher.West Texas crude oil gained overnight.The Australian dollar pushing above 78 US cents.
News Corps5 says its global profit declined by five percent to 142 million US dollars in the December quarter.Revenue from the Australian newspaper business also fell by eight percent which News says it's caused by the fall of the Australian dollar along with the decline in advertising6 income.income. Foxtel earning fell as well despite of the five percent increase in the number of paying customers.
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1 somber | |
adj.昏暗的,阴天的,阴森的,忧郁的 | |
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2 assessment | |
n.评价;评估;对财产的估价,被估定的金额 | |
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3 monetary | |
adj.货币的,钱的;通货的;金融的;财政的 | |
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4 justifies | |
证明…有理( justify的第三人称单数 ); 为…辩护; 对…作出解释; 为…辩解(或辩护) | |
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5 corps | |
n.(通信等兵种的)部队;(同类作的)一组 | |
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6 advertising | |
n.广告业;广告活动 a.广告的;广告业务的 | |
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