Sales, business confidence down in Australia
Posted on November 02nd, 2008 in aus, Aussie business confidence, aussie dollar, aussie economy, banking and finance, cent, commodities, Global financial crisis, micro cap, perth, Reserve Bank of Australia
The effects of global financial crisis have greatly alarmed the economy of Australia. It has indeed hurt the business confidence of most of the companies as a survey showed a decline on its sales.
The Reserve Bank of Australia (RBA) is tipped to announce an official cut of 50 basis points, or half a percentage point, on Tuesday.
“Our position is clear: the banks should pass on as much as they can of any increase at any time,” Assistant Treasurer Chris Bowen told Channel 10.
