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CNY/AUD News
Australia's Consumer Inflation Expectations Rise to 4.2% in December
ANZ Research Trims 2024 GDP Growth Forecast for Australia to 1.1%
Australian Westpac Leading Index Points to Modest Growth
Insurance Australia Group Limited Analysis and Elliott Wave Forecast [Video]
Australia expects the budget deficit to widen before the 2025 election, with the first interest rate cut possibly occurring in April or May next year.
The mid-year fiscal update shows that due to increased government spending, Australia's budget is expected to further fall into deficit over the next few years, with the Australian election taking place in less than six months. According to the mid-year economic and fiscal outlook released on Wednesday, although the budget deficit for the current fiscal year is expected to slightly narrow to 26.9 billion Australian Dollar (17.1 billion USD), it will widen to 46.9 billion Australian Dollar by 2025-26, accounting for 1.6% of GDP, and remain at or above 1% of GDP. The Treasury also slightly lowered the forecasts for this fiscal year and the next fiscal year due to rising interest rates restraining private sector activity.
Australian Budget Update Set to Highlight Return to Deficits -- Market Talk
Timely lowering of reserve requirements and interest rates, preventing and resolving risks in key areas, maintaining stable Exchange Rates. The central bank, financial regulatory authority, and Forex bureau collectively responded on how to proceed next ye
① The central bank also pointed out the need to explore and expand the macro-prudential and financial stability functions of the central bank, and effectively implement two monetary policy tools to support the stable development of the Capital Markets. Experts indicate that this statement significantly improves market expectations and enhances market anticipation for a slow bull market trend in the medium to long term; ② The Financial Regulatory Bureau pointed out the necessity to effectively prevent and resolve risks in key areas, continuously improving the quality and effectiveness of financial regulation, and promoting high-quality development in the Banking and Insurance industries.
Australian Consumer Confidence Wanes in December on More Pessimistic Economic Outlook
Australia Consumer Sentiment Slips on Renewed Concern at Outlook
Australia's Consumer Confidence Drops in Week to Dec. 15
Ugly New Data Exposes Australia's Economic Struggles
The central bank will implement a moderately loose monetary policy and timely reduce the reserve requirement ratio and interest rates to maintain ample liquidity.
① Implement a moderately loose MMF policy effectively. ② Better support key areas and weak links of high-quality development.
Australian Private-Sector Sluggish in December: PMI Report
The State Administration of Foreign Exchange: In November, Banks settled 1465.8 billion yuan and sold 1440.9 billion yuan.
According to Statistics from the State Administration of Foreign Exchange, in November 2024, Banks exchanged 1,465.8 billion yuan and sold 1,440.9 billion yuan.
In November, China's industrial added value above the designated size increased by 5.4% year-on-year, with New energy Fund, Siasun Robot&Automation, and integrated circuits leading the growth.
From January to November, the added value of large-scale industries grew by 5.8% year-on-year. Among them, the production of New energy Fund vehicles, Siasun Robot&Automation, and integrated circuit products increased by 51.1%, 29.3%, and 8.7% respectively.
New RBA Board Represents Continuity
National Statistics Bureau: In November, the total retail sales of consumer goods increased by 3.0% year-on-year.
In November, the total retail sales of consumer goods reached 4,376.3 billion yuan, an increase of 3.0% year-on-year. Among them, the retail sales of consumer goods excluding Autos were 3,899.8 billion yuan, showing a growth of 2.5%. From January to November, the total retail sales of consumer goods reached 44,272.3 billion yuan, with a year-on-year increase of 3.5%. The retail sales of consumer goods excluding Autos were 39,796 billion yuan, growing by 3.7%.
China's November Retail Sales Rise 3.0%, Industrial Production up 5.4%
Australia's Private-Sector Business Activity Falls to Three-Month Low in December
The Treasurer of Australia has appointed executives from the Banks and scholars to join the MMF Policy Committee of the Reserve Bank of Australia.
Australia's Treasury Secretary Jim Chalmers has appointed a financial services executive and an academic to join the newly established monetary policy committee of the Reserve Bank of Australia, putting an end to weeks of speculation about who would serve in one of the country's most powerful economic policy-making bodies. Starting in March, the Reserve Bank of Australia will implement a dual committee system, with one committee responsible for the increasingly complex governance issues of the bank, and another committee responsible for setting interest rates. Prior to this, a long-standing independent evaluation of the Reserve Bank found that the current single committee system was no longer suitable.