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The head of the US Central Bank expects official US interest rates rise by the end of the year. Janet Yellen says she expects the federal funds rate to increase in 2015 as long as there are no economic surprises. Mrs. Yellen was speaking a week after the federal reserve kept rates on hold citing global economic uncertainty1. It was another volatile2 day of trade on the local market after Janet Yellen's speech. The All Ord rates Index opened high, but ended the day weaker. The ASX 200 lost more than 0.5 %. Looking at the movers. Travelled education company Vocation3 jumped nearly 40%, after a settlement with the authorities over its deregistered traing firm. The miners rose. The big banks pulled the market down and Myer surged 8.5% on takeover talk. US markets ended lower after Janet Yellen said she thought a rise in US rates. The Dow Jones Index dropped 0.5%. Spot gold jumped overnight, but pulled back during the day. West Taxis Crude Oil gained, and the Australian dollar trading about 70 US cents after falling below that overnight as the green bank rose. Now Australian POST has made its first loss in more than 30 years as customers go digital. The company made enough to tax loss of just over 220 million dollars last financial year. Australian POST says as profitable parcels business fail to offset4 large losses in its latest business, in 2014 it made a profit of nearly 120 million dollars.
1 uncertainty | |
n.易变,靠不住,不确知,不确定的事物 | |
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2 volatile | |
adj.反复无常的,挥发性的,稍纵即逝的,脾气火爆的;n.挥发性物质 | |
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3 vocation | |
n.职业,行业 | |
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4 offset | |
n.分支,补偿;v.抵消,补偿 | |
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