Beer drinking in Australia fell to the lowest level since the end of World War II as wealthy consumers opted for wine and others shifted to the hard stuff.
Australia’s flagging property market is poised to get a boost from record low interest rates and a housing shortage that could boost prices by as much as 10 percent this year.
Australia’s core inflation slowed last quarter, sending the currency lower as investors eased bets on the likelihood of an interest-rate increase.
Australia boosted full-time payrolls in February by the most in more than 22 years, sending the currency higher and signaling the central bank’s bid to spur local demand with record-low interest rates is gaining traction.
Australia’s central bank left its key interest rate unchanged at a record low and said the currency’s recent climb will reduce support for the economy.
Australian employers boosted payrolls in April, underscoring an improving economic outlook that prompted the central bank to adopt a neutral policy stance.
Australian consumer prices advanced last quarter at the slowest pace in almost two years as a stronger currency lowered costs for household appliances, clothing and cars from abroad.
"Whichever way you cut it, inflation is not a threat to the economy and the Reserve Bank will not be feeling any additional pressure to move rates in any direction any time soon."
- Savanth Sebastian on Oct 21, 2014