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The Reserve Bank has hinted rising inflation could mean the next interest rate move may be up. In its latest quarterly statement, the RBA reiterated1 interest rate will likely stay at historic low of 2.5 percent for some time, but it says inflation is now expected to hit the top of its target ban by mid-year. The bank's main tool against inflation is to raise the cash rate. The bank's statement also lifts Australia's economic growth outlook for the year slightly.
Australian shares ended the day higher, but not as high as gains seen on global markets overnight. Traders have been anticipating some key US job numbers due tonight and the Australian corporate2 earning season which rounds up next week. The All Ordinaries Index added 0.7 percent, as did the ASX 200 index. Across the region, Japan's Nikkei has jumped closed to two percent. China's main market has returned to trade from the lunar New Year holiday and is down around a quarter of a percent. The Australian dollar has fallen against the greenback throughout the afternoon to 89.4 US cents.
Rupert Mordoch's Newscorp has reported a slide in revenue as newspaper advertising3 declines. Total revenue for the media conglomerate4 in the second quarter was down four percent to 2.25 billion dollars. During the period, revenue from Australian newspapers dropped 17 percent.
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1 reiterated | |
反复地说,重申( reiterate的过去式和过去分词 ) | |
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2 corporate | |
adj.共同的,全体的;公司的,企业的 | |
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3 advertising | |
n.广告业;广告活动 a.广告的;广告业务的 | |
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4 conglomerate | |
n.综合商社,多元化集团公司 | |
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