Japan posted its biggest October trade deficit on record, as a revival in exports to the U.S. and China was overwhelmed by the nation’s soaring costs for imported fuel in the wake of the nuclear industry’s shutdown.
Australia’s dollar strengthened, extending its first five-day gain in three weeks, as a bigger- than-expected increase in Chinese imports offset the impact of a Reserve Bank downgrade to its growth forecasts.
High-frequency trading, in which firms use computers to buy and sell thousands of times securities a second, may reduce liquidity amid market stress, Reserve Bank of Australia Assistant Governor Guy Debelle said.
Some financial markets have yet to see volatility return to pre-crisis levels, especially the bond market, while the foreign-exchange market has done so, said Australian central bank Assistant Governor Guy Debelle said.
Australia’s banks are paying the same to raise funding through three-month deposits as they are on five-year unsecured bonds as they seek to safeguard credit ratings, central bank Assistant Governor Guy Debelle said.
Australia’s economic growth in the years ahead may rely less on business credit than in past expansions as mining companies use cash or foreign investment, Reserve Bank of Australia Assistant Governor Guy Debelle said.