Australian exports continue to slide

Mar 8, 2023 | Making news | 0 comments

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The financial markets fall-out from the collapse of two large US banks has weakened the US dollar, on speculation that the impact might cause the US Fed Reserve to pause interest rates rather than carry on with their crusade against inflation. The Fed seems torn now between easing pressure and controlling inflation, after another phase of policy to capitalise the profits and socialise the losses, which will encourage more of the same in banking sector. 

Inflation reaccelerated February’s consumer price index, excluding food and energy, increased 0.5% in February and 5.5% from a year earlier, according to US Bureau of Labor Statistics. CPI overall climbed 0.4% in February and 6% from a year earlier. The US$ weakened against major currencies. The Euro climbed back to near $1.075 today, last seen in early February. The US$ was buying CNYO6.88 after touching 7.00 last week.