2019年6月4日
The RBA just cut rates for the first time in years 澳联邦储备银行多年来首次降息
The Reserve Bank of Australia (RBA) has cut official interest rates for the first time since August 2016, delivering a 25 basis point reduction in the cash rate in June, leaving it at a new record low of 1.25%.
Even before the RBA move today, financial markets had a cumulative 70 basis points of policy easing priced in by the middle of next year, implying the cash rate could be reduced another two times during this period.
Westpac Bank: Westpac expects that there will be further cuts in this cycle in August and November. The labour market will remain the key focus for the policy profile.
J.P. Morgan: We are forecasting the next 25 basis point rate cut in August, and a further 50 basis points of easing in the first half of 2020.
AMP Capital: The RBA’s latest rate cut is aimed at heading off a further slowing in growth which would threaten higher unemployment and lower for longer inflation. More rate cuts are likely to be needed ultimately taking the cash rate to a low of 0.5% next year.
Commonwealth Bank: We expect today’s rate cut to be followed up with a further 25 basis point easing, to 1.0%, at the August 6 RBA Board meeting.
ANZ: While we think there will be a further easing in coming months, our view is that the RBA will display some patience given it doesn’t have a lot of policy space.
NAB: NAB forecasts a further reduction in the cash rate to 1% at the Bank’s August Board meeting, and the risk of a further reduction in the first half of 2020. This reflects the view that the somewhat slower growth in prospect will require further monetary stimulus.
One of Europe's flagship airlines is working on a V-shaped plane that seats passengers in its wings 欧洲某旗舰航空公司正开发可供乘客坐在机翼中的v型飞机
Dutch airline KLM is funding the development of a v-shaped aeroplane that will seat passengers in its wings to make it more fuel-efficient. Its designers claim it will need 20% less fuel than an Airbus A350, today’s most advanced aircraft.
A protoype version of the plane could be ready as early as fall 2019, researchers said. But a real-world version of the plane would likely not enter service until at least 2040. Like the advanced Airbus A350, the “Flying V” will be able to carry 314 passengers and 160 square meters (1722.23 square feet) of cargo.
Dr. Roelof Vos, project leader at TU Delft, said in a statement: “The Flying-V is smaller than the A350 and has less inflow surface area compared to the available amount of volume. The result is less resistance. That means the Flying-V needs less fuel for the same distance.”
Australian retail sales fall unexpectedly, led by steep declines in NSW and Victoria 新南威尔士州和维多利亚州的业绩下滑带动澳大利亚零售业销量衰弱
Australian retail sales fell unexpectedly in April, driven by steep falls in New South Wales and Queensland. According to the Australian Bureau of Statistics (ABS), retail turnover fell 0.1% during the month in seasonally-adjusted terms, a result well below the 0.2% increase expected by financial markets.
Sales rose by 0.3% in March, unchanged from the initial estimate. From a month earlier, sales of household goods, clothing and apparel, and at cafes, restaurant and takeaway food services, went backwards, falling 0.9%, 0.7% and 1.2% respectively. Those declines were partially offset by increased turnover at other retailers, department stores and food outlets which rose by 0.8%, 1.8% and 0.2% respectively.
Non-food sales, often regarded as a better guide to discretionary spending patterns at retailers, fell by larger 0.2% during the month. Food is the largest category by dollar spend in the retail sales report, accounting for 41.2% of turnover in the latest update.
“First, lower interest rates will free up a little cash for millions of Australian households. Anything from two to four rate cuts appears possible over the next year.
“Second, the minimum wage will increase by 3% on 1 July, providing support for low-income earners.
“Third, the federal government’s tax offset will provide an immediate boost to household incomes, although admittedly there is uncertainty surrounding the timing of the full tax offset.”
However, while tax cuts and lowering borrowing costs, combined with Australia’s next minimum wage increase at the start of July, means there’s reason for optimism about the outlook for spending in the months ahead.
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