Tag Archives: Sydney

Australian Opposition Urges RBA Review, Fiscal-Monetary Policy | Instant News

Photographer: David Gray / Bloomberg

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Australia’s opposition Labor Party called for a review of the Reserve Bank’s goals and shared fiscal and monetary policy responsibilities in response to economic weakness ahead of last year’s recession.

“The lion’s share of the blame over years of weak payroll, unsafe jobs and flat business investment belongs to the Morrison government and economic mismanagement,” Shadow Treasurer Jim Chalmers said Wednesday. “But that doesn’t mean we shouldn’t review the goals and levers of the RBA and the fiscal and monetary policy interactions.”

Chalmers originally put forward the critique in a Sydney Morning Herald Report on the country’s central bank and its inability to meet inflation targets in recent years. The RBA has so far managed to avoid reviews, unlike international partners.

“This is an important institution but does not go beyond criticism or reproach,” said Chalmers.

Like his global counterparts, Governor Philip Lowe and his colleagues are under increasing scrutiny with interest rates at effective lower bounds and the bank is embarking on a quantitative easing program.


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The Australian Housing Boom Was Built As Prices Soared Since 1988 | Instant News

Photographer: Brent Lewin / Bloomberg

Australia’s housing boom picked up in March as the country’s economy and labor market continued to recover strongly from the pandemic.

The value of national homes jumped 2.8% in March, the biggest increase since October 1988, CoreLogic Inc. data. which was released Thursday shows. Sydney led the way in appreciation, surging 3.7% last month and up 6.7% during the first quarter.

“The last time Sydney housing values ​​recorded a quarterly trend this strong was in June / July 2015,” said Tim Lawless, head of research at CoreLogic. “Following this brief spike, the pace of growth is slowing rapidly as investor lending limits start to slow down the market.”

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The rise in property prices has been triggered by record low lending rates, improved economic prospects, a shortage of new housing supplies and government incentives. Goldman Sachs Group Inc. estimates prices will rise 15% over the next two years as people look for bigger, more numerous homes space to work, amid resurfacing buyers’ concerns about losing.

As house prices rise from Singapore to Canada and the US, a return to booming days in Australia threatens to swell an already worrying pile of household debt and make it harder for young people to buy their first home. Australia’s prudential regulators are considering possible actions that could be taken cool price to control excessive risk taking.

“We think some of the tightening of macroprudential policies will come into effect in the second half of this year,” said Diana Mousina, senior economist at AMP Ltd.


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Australians Work From Home Even When the Office Reopens: Indeed Data | Instant News

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Australians with work from home arrangements appear to be on permanent footing, with the setting’s popularity increasing even as workplaces reopen, says global jobs website Indeed Inc.

Three-quarters of the industry saw larger citation of the description ‘working remotely’ in job advertisements for the three months to February, compared to the average from April to November 2020, Callam Pickering, an economist at Indeed, said in a released research note. in Sydney Tuesday.

This trend suits Australians choose to rebase to regional areas during the pandemic as remote working arrangements allow them to take advantage of more affordable housing or enjoy better lifestyles.

The research shows that at the end of February, 8.9% of Indeed Australia job posts featured keywords related to remote work in their job descriptions, up from 4.3% in January and February 2020.

“While local Covid-19 transmission is low and most industries are operating at normal capacity, work-from-home arrangements remain popular in Australia as they are at the peak of the pandemic,” said Picketing, who previously worked at the Reserve. Bank of Australia.


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Steve Smith: Former Australia captain wants another chance to lead his country | Cricket News | Instant News

Smith was replaced by Tim Paine after he was suspended for his role in the ‘sandpaper gate’ scandal; Smith: “I think I’ve now gotten to the point where if the opportunity arises again, I will be intrigued.”

Last Updated: 03/29/21 12:55 PM

Steve Smith lost the Australian captain when he was suspended in 2018

Former Australia captain Steve Smith said he was “eager” to lead his country once again – having to give up his role after the ‘sandpaper gate’ scandal in 2018.

Smith was suspended from international cricket for 12 months and banned from a leadership role for two years for his role in an event in Cape Town during the Trials against South Africa in March 2018.

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Smith, his deputy David Warner, and Cameron Bancroft, all received sanctions after Cameron Bancroft was caught on camera trying to change the condition of the ball using sandpaper.

With Smith’s ban, Tim Paine took control of the Australian Test team while Aaron Finch was handed the captain of the white ball team.

Asked if he will lead the team again at some stage, Smith told News Corp: “I definitely had plenty of time to think about it and I think now I have come to a point where, if the opportunity arises again, I would be interested.

“If that’s what Cricket Australia wanted and it was the best for the team at the time, it must be something I’m interested in now, that’s for sure.”

Paine will be 37 when he is expected to captain Australia against England in Ashes this winter – and fast bowler Pat Cummins has acted as vice-captain in the past.

Paine's team is currently the captain of the Australian Test team but turns 37 in December

Paine’s team is currently the captain of the Australian Test team but turns 37 in December

Smith added: “I will always stay with Cape Town, whether I take the lead again or not. It’s always been there.

“I’ve been through it now.

“Time is moving forward, and I have learned a lot over the last few years about myself and growing as a human being. I feel as though I would be in a better place, if the opportunity arose.

“If not, that’s fine too, and I will support whoever is responsible in the same way I support Tim and Finchy.

“I don’t always feel like doing it anymore. It only happens at the last moment.”


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