Employers in the U.S. took on more workers in March than a month earlier and the jobless rate fell, indicating companies were confident sales will rebound from a weather-related setback, according to economists.
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.
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.
Australian home-loan approvals fell in June, after gaining in May for the first time in eight months, adding to signs the most aggressive round of interest-rate gains by a Group of 20 member is cooling demand for dwellings.
Australia’s central bank faces a “finely balanced” decision on whether to increase borrowing costs for the sixth time in seven meetings, as Governor Glenn Stevens weighs a near doubling of inflation against concerns about European debt.