Joshua Williamson

RBA Cuts Key Rate to Record-Low 2.75% to Combat Aussie: E

The Reserve Bank of Australia cut its benchmark interest rate to a record low, driving down a currency that has damaged manufacturing and boosted unemployment.

Australian Retail Sales Decline as Job Outlook Weakens: Economy

Australian retail sales unexpectedly fell in March and job advertisements dropped for a second month, sending the currency lower as traders see a 50-50 chance the central bank will resume cutting interest rates tomorrow.

Australia Consumer Prices Rose Less Than Forecast

Australia recorded its slowest core consumer price growth in 14 years last quarter, sending the nation’s currency lower as traders boosted bets the Reserve Bank will reduce interest rates to a record low next month.

Australia’s Unemployment Rate Jumps to Three-Year High: Economy

Australia’s unemployment rate climbed in March to the highest level in more than three years, sending the local dollar and bond yields lower as traders added to bets the central bank will resume interest rate cuts.

GM Holden Cuts 500 Australian Workers Citing Currency Strength

General Motors Co.’s Holden division will cut about 500 jobs in Australia, saying the strong local dollar and currency devaluations in competing markets had made operations in the nation among the most expensive in the world.

Australia Expands at Fastest Pace Since 2007 on Exports: Economy

Australia’s economy expanded in 2012 at the fastest pace in five years as resource investment and exports outweighed subdued manufacturing and construction.

Nippon Steel, JFE Resume Blast Furnace Output After Quake

Nippon Steel Corp. and JFE Holdings Inc. , Japan’s largest steelmakers, restarted blast furnaces at their factories near Tokyo after a halt triggered by the nation’s strongest earthquake on record.

Australia to Post Budget Surplus of $2.7 Billion by 2012-13, Swan Says

Australian Treasurer Wayne Swan projected a higher-than-expected A$3.1 billion ($2.7 billion) surplus in three years on surging tax revenue from mining companies as the government prepares to call an election.

Australia December Home-Building Permits Unexpectedly Fall

Australian home-building approvals unexpectedly declined for the second time in three months in December and help-wanted notices dropped, underscoring a weaker domestic economy.

Battellino Says Australian Central Bank Must Be `Alert' to Inflation Risk

An expansion in Australia’s economy, now in its 20th year of growth as a mining investment boom intensifies, will boost inflation pressures in coming years, central bank Deputy Governor Ric Battellino said.

"It's a seminal decision to put a 2 in front of a decimal point for interest rates, and the RBA has decided to maintain its easing bias."

- Joshua Williamson on May 06, 2013

Australia

Reserve Bank

Glenn Stevens

Japan

Soros Joins Gold-Stake Cuts Before Bear Market Drop

Euro Declines for Sixth Day as Inflation Slows; Aussie Weakens

James Bond’s Pinewood Turned Down on $300 Million Plan

Asian Stocks Retreat as Japanese Banks Fall on Earnings

Sony’s $100 Billion Lost Decade Supports Loeb Breakup