Australia’s central bank said the local dollar may fall further as export prices ease and repeated it has room to cut interest rates again, according to minutes of its June 4 meeting at which it held the cash rate steady.
Axing Prime Minister Julia Gillard in favor of her predecessor Kevin Rudd would boost the Labor party’s chances in elections due in three months, polls show, as a two-week window for lawmakers to switch leaders begins today.
Australian Prime Minister Julia Gillard, needing an unprecedented recovery in popularity to win elections in three months, faces a window in coming weeks where her leadership could again come under challenge.
Australian Prime Minister Julia Gillard will meet with representatives of the local units of Toyota Motor Corp., General Motors Co. and Ford Motor Co. to discuss how the government can assist the car industry.
Australia’s economy expanded at the slowest annual pace in almost two years as manufacturers and builders detracted from growth, sending the nation’s currency lower as traders increased bets on further interest-rate cuts.