Economic Growth

The Australian Dollar has hit a 3 ½ year low, falling to the US dollar at 86.97¢. This is the lowest the AU dollar has been since July 2010. But according to RBA board member Heather Ridout, the currency has yet to reach alarming levels. Influenced by the recent slow growth of the Chinese economy, there is a broad range of currencies on the losing end. In Australia, traders are concerned that because of these events, investors are expecting a further decline of the currency which might lead to tight monetary conditions and financial stress to the country. To read [...]

The Heritage Foundation, a research and educational institution has named Australia as one of the top three countries to do business with behind only Hong Kong and Singapore. New Zealand and Taiwan finished at 4 and 5 respectively. The ranking was based on the ease of doing business in the country. According to Heritage, ''Australia has weathered the global economic uncertainty well.'' They highlighted that the nation has an economy that benefits from sound fundamentals including monetary stability, low public debt, and a vibrant employment market. Trade Minister Andrew Robb boasts that Australia is the only OECD (Organization for Economic [...]