Australians expected to save rather than spend

Note: This section contains information in English only.
Source: Bloomberg
Gail Kelly, CEO of Westpac Banking Corp, claimed the additional money gained coming from central bank's interest rate cut most likely will be used either to increase savings or to repay loans. She indicated that Australian consumers currently are very cautions towards extra spending. Kelly suggested the Reserve Bank of Australia should apply further repo reduction. According to her, Australia economy will experience growth when consumers and businesses regain confidence.

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Mon, 07 Nov 2011 16:26:47 GMT

Treasure notes gain recognition among investors

Demand for short-term bonds has been increasing rapidly as investors remain cautious regarding Eurozone debt turmoil. Traders have submitted $748.5 bn in offers for the $54.4 bn of  short term assets maturing 2012 - 2014. 13.8 to 1 ratio beats the typical 3-to-1 offer. The bids indicate that the Federal Reserve borrowing rate may remain at record low.

Mon, 07 Nov 2011 13:42:02 GMT

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