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RBA happier with dollar and the economy

RBA happier with dollar and the economy

The Reserve Bank appears happier about the economy and the falling Australian dollar, making the chance of another interest r…

  • WA govt confident Bell bill will pass AAP - 11 hours ago

    The West Australian treasurer is confident the upper house will pass the state government's legislative bid to seize control of the Bell Group carve-up process. A bill was introduced in May to ensure the Insurance Commission of WA (ICWA) jumped to the top of the creditors' queue after a $1.7 billion win by the liquidators of the Alan Bond-led Bell Group. It could net the state government $700 million, including about $200 million that ICWA spent principally bankrolling litigation against banks that had extended Bell Group's loans in exchange for certain assets - just as it was on the brink of insolvency.

  • RBA happier with dollar and the economy AAP - 11 hours ago
    RBA happier with dollar and the economy

    The Reserve Bank appears happier about the economy and the falling Australian dollar, making the chance of another interest rate cut less likely in the near future. The RBA board on Tuesday left the cash rate at a record low of two per cent for a third straight month after making quarter of a percentage point cuts in May and February. Governor Glenn Stevens gave an upbeat assessment of the Australian economy and refrained from repeating his recent concerns about the dollar being overvalued.

  • Shopping shift lifts Mobile Embrace profit AAP - 11 hours ago

    Australians' love affair with their smartphones has helped mobile payments and marketing company Mobile Embrace lift full year profit 22 per cent. Chief executive Chris Thorpe said a high smartphone adoption rate and consumers' willingness to buy things on gadgets were helping drive Mobile Embrace's expansion. Mobile Embrace provides integrated mobile and digital infrastructure to marketers, publishers and telecommunications companies, and made a $3.05 million net profit in the 12 months to June 30, up from $2.49 million a year ago.

  • ASF secures Gold Coast casino site AAP - 12 hours ago

    Shares in Sino-Australian investment firm ASF Group have jumped 15 per cent after the Queensland government announced a new site for an integrated resort and casino on the Gold Coast. ASF's proposal to develop a casino resort and cruise ship terminal on Wavebreak Island was rejected by the Queensland government earlier this year, but the two parties have now agreed to a new site at Main Beach. It sits on a five hectare block between Sea World and the Gold Coast Fisherman's Co-operative.

  • More record bank profits to come AAP - 12 hours ago

    The major banks will continue to rake in record profits despite a slowing economy and the risks posed by soaring property markets, ratings agency Moody's says. Commonwealth Bank is expected to beat last year's $8.7 billion profit when it releases its results for 2014/15 on August 12, while its three rivals report to the market in October and November. The latest study of the banking industry by Moody's highlights risks from a slowing economy, imbalances in the property market due to Sydney and Melbourne's rising prices and new capital requirements, but maintains the agency's positive outlook for the major lenders.

  • Market lifted by CSL and retailers AAP - 12 hours ago

    The share market closed higher as biotechnology giant CSL broke a milestone and retailers surged on good sales numbers. CSL's two per cent rise took its shares past the $100 benchmark for the second time in its history, and helped push the market into positive territory, Joseph Palmer & Sons private client services manager Allan Furlong said. CSL gained $1.94 to $100.77, while Commonwealth Bank gained 66 cents to $88.03 and Telstra added six cents to $6.50.

  • Aust bonds weaken after RBA meeting AAP - 12 hours ago

    Australian three-year bond futures prices are lower after the Reserve Bank gave an upbeat assessment of the economy and appeared less likely to cut the cash rate again. After its board meeting on Tuesday, the RBA kept the cash rate at a record low of two per cent and said employment growth was stronger and it stopped complaining about the overvalued Australian dollar. Bond futures weakened following the announcement but 10-year contracts are still elevated because of the overnight rally on the back of weaker-than-expected US data and falls in commodity prices.

  • Aussie gold miners happy with $A AAP - 12 hours ago

    Australian gold producers say they are benefiting from falls in the local currency. A rate rise is likely to boost the US dollar and put further pressure on gold prices which are trading at five year lows of around $US1100 an ounce. Regis Resources managing director Mark Clark said the gold price in Australian dollar terms was okay in a long term context.

 

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      Currencies
      NamePriceChange% Chg
      0.8850-0.017-1.88%
      NZDAUD=X
      0.6532-0.0033-0.50%
      NZDUSD=X
      0.4194-0.0017-0.41%
      NZDGBP=X
      81.1973-0.1975-0.24%
      NZDJPY=X

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      NamePriceChange% Chg
      2.29-0.03-1.29%
      MEL.NZ
      2.945-0.050-1.67%
      SPK.NZ
      2.79-0.09-3.13%
      MRP.NZ
      1.75-0.02-1.13%
      GNE.NZ
      1.51+0.03+2.03%
      WYN.NZ
    • % Gainers
      % Gainers
      NamePriceChange% Chg
      3.23+0.17+5.56%
      FCG020.NZ
      0.30+0.01+3.45%
      MOA.NZ
      0.30+0.01+3.45%
      TNR.NZ
      4.85+0.15+3.19%
      ABB030.NZ
      3.12+0.09+2.97%
      AKC050.NZ
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      % Losers
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      3.26-0.24-6.86%
      SPF490.NZ
      4.50-0.20-4.26%
      IFT090.NZ
      2.52-0.11-4.18%
      OGC.NZ
      0.50-0.02-3.85%
      CAV.NZ
      1.00-0.04-3.85%
      FLI.NZ