China’s hog supplies guaranteed in H2
China’s hog supply in the second half (H2) of this year is guaranteed and hog prices will not grow continuously and substantially, an agricultural official said on Wednesday. “Overall, this round of hog price hikes were mainly caused by recovery-related and seasonal reasons,” Chen Guanghua, an official with the Ministry of Agriculture and Rural Affairs,…
Grain production expected to remain stable
China is expected to see stable grain production this year, despite challenges including rare autumn floods last year, sporadic resurgences of COVID-19 cases and drastic fluctuations in the global farm produce market, an agricultural official said Wednesday. “China is witnessing a sound grain production situation this year,” Liu Lihua, an official with the Ministry of…
CommSec morning report Thursday
In US economic data, existing home sales fell by 5.4% in June to an annualised two-year low of 5.12 million (survey: 5.35m). MBA mortgage applications fell by 6.3% last week (prior week: -1.7%). European sharemarkets fell on Wednesday. The pan-European STOXX 600 index dipped by 0.2% on jitters around Russian gas supplies to the continent….
Evening report Wednesday
Strong gains in global equities set the tone for a rally in the Aussie sharemarket, with the ASX 200 recording its best day in roughly 3½ weeks after adding 109.6 pts or 1.65 per cent, to 6759.2. All sectors finished higher for the 10th time this year, with Tech climbing most. The ASX 200’s heavy-weight…
Inflation, Productivity and the Future of Money
This Forum is being held at a critical time. As a country, we face some significant challenges, but we have plenty of opportunities as well. I would like to focus my remarks today on the challenge of bringing inflation back to target. This is an important priority for the RBA. And in the spirit of…
Reserve Bank expects to lift rates to 2.5%
The Reserve Bank (RBA) Governor delivered a speech: “Inflation, Productivity and the Future of Money”. In response to a question the Reserve Bank Governor noted “…we have more interest rate increases to come. Two-and a half per cent is our rough estimate of the neutral rate. At some point I imagine that rates will get…
China sees foreign trade up
South China’s Guangdong Province saw its foreign trade grow 2.8 percent year on year to hit 3.91 trillion yuan (about 579.68 billion U.S. dollars) in the first half of 2022, local customs authorities said on Tuesday. The province’s exports climbed 7.3 percent to 2.47 trillion yuan, while imports were down 4 percent to 1.44 trillion…
What China will do to boost the economy
China’s industrial economy showed great resilience in the first half of the year amid complex situations at home and abroad. The value-added industrial output went up 3.4 percent year on year in H1. In June alone, industrial output growth quickened to 3.9 percent year on year, expanding by 3.2 percentage points from that in May,…
How Are Households Placed for Interest Rate Increases?
It was only nine months ago that I was speaking about the risks emerging in a very buoyant housing market. Funding costs and interest rates were at historic lows, housing prices were growing at a fast pace, and concerns were centred on the potential macro-financial risks stemming from high and rising levels of household debt….
Energy resources stocktake confirms Australia’s powerhouse status
The Australian Government’s annual stocktake of the nation’s energy resources has confirmed Australia’s status as a global energy powerhouse. Geoscience Australia has released the updated Australia’s Energy Commodity Resources (AECR) assessment for 2022, including detailed analysis of Australia’s non-renewable energy resources comprising uranium, coal, oil and gas commodities in 2020 and 2021. Minister for Resources…
