WSJ-PRO-NP – Page 51 – The News Desk

RBA Stands Pat on Rate to Assess Economic Outlook

4Jul

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World

RBA Stands Pat on Rate to Assess Economic Outlook

SYDNEY—The Reserve Bank of Australia left official interest rate on hold Tuesday saying that the decision gives it time to further assess the mixed economic outlook. The official cash rate remained at 4.10%, with economists split ahead of the policy meeting on whether the RBA would tighten further or remain on the sidelines. “Interest rates...

3Jul

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World

Tesco Names New Chairman

Tesco said Gerry Murphy has been appointed chairman and will join the board on September 1, replacing Byron Grote who will take up his previous role as senior independent director.

Japan Big Manufacturers Sentiment Improves First Time in Seven Quarters

2Jul

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World

Japan Big Manufacturers Sentiment Improves First Time in Seven Quarters

Sentiment among Japanese large manufacturers improved for the first time in seven quarters during the three months to June thanks to eased supply constraints.

Ousting of Lowe Will Raise Questions About RBA Independence

23Jun

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World

Ousting of Lowe Will Raise Questions About RBA Independence

SYDNEY—Reserve Bank of Australia Gov. Philip Lowe looks likely to be unceremoniously removed from his job next month amid a new and worrying era of political pressure being exerted on the setting of interest rates, and growing doubts about the cherished independence of the central bank in the future. Treasurer Jim Chalmers said this week he will appoint the next governor in July, with the announcement coming just ahead of a list of potential candidates for the RBA’s top job leaked to national newspapers. Those...

RBA Deputy Governor Spells Out Why Higher Unemployment Is Needed

19Jun

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World

RBA Deputy Governor Spells Out Why Higher Unemployment Is Needed

SYDNEY—Employment in Australia is currently above the levels that are consistent with inflation falling back to target, Reserve Bank of Australia Deputy Gov. Michele Bullock said Tuesday. In a speech to a business forum, Ms. Bullock laid out the case for why the unemployment rate will have to rise from its current 50-year lows if the inflation rate is to return to the target range of 2% to 3% over the coming years. “Employment...