Who's next in lifting interest rates
The Bank of Canada on Wednesday did what would have been unthinkable a few short months ago, hiking interest rates by 25 basis points, and paving the way for other central banks to do the same.
Myriam Robin is a markets reporter based in the Financial Review's Melbourne newsroom.
The Bank of Canada on Wednesday did what would have been unthinkable a few short months ago, hiking interest rates by 25 basis points, and paving the way for other central banks to do the same.
Shares and the Aussie dollar shot higher as local investors joined a global rally after dovish Fed comments lifted the Dow to a record.
Despite recent scandals there are good investments to be found in retirement accommodation, says UBS.
Since the global financial crisis, central banks have held interest rates low while using their balance sheets to pump financial markets full of liquidity.
The Australian sharemarket closed sharply lower on Wednesday, following a choppy session on Wall Street.
A bump in commodity prices provided support for mining shares, but the ASX traded within a tight band to close flat.
Record household debt and soaring property prices have "created a high hurdle" for the RBA to raise interest rates, says PIMCO.
The end of cheap credit will cause major shifts in investor behaviour, undoing some of the habits learnt over a decade of central bank largesse.
A number of agencies have downgraded their forecasts on key Australian commodity exports, potentially posing problems for Australia's listed resource exporters.
The ASX had by Friday given up all its gains over the week, as a bond sell-off weighed on local equities.
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