Australia & New Zealand Banking Group Ltd. has revamped the structure of its economics and research team in a move that has scrapped the role of chief Australia economist that was held by Ivan Colhoun.
U.S. payroll numbers in June back the case for the Federal Reserve to start tapering stimulus in September, according to Warren Hogan, the Sydney-based chief economist at ANZ Banking Group Ltd. He spoke in an interview with Susan Li on Bloomberg Television.
Chris Bowen, a key backer of returned Prime Minister Kevin Rudd, was sworn in as Australia’s third treasurer in 17 years and faces the challenge of reviving a slowing economy as a mining-investment boom wanes.
Australia’s four biggest lenders are divided over whether Reserve Bank Governor Glenn Stevens and his board will resume reductions next week in the highest benchmark interest rate among major developed nations.