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Business and Market Discussion / View from Australia

2020-09-18

Business and Market Discussion / View from Australia

2020-09-18
 Hong Kong’s unemployment rate in the three months ending August stood at 6.1%, unchanged from the May-to-July period, the highest level since January 2005. The consumption and tourism related sectors were among the hardest hit, with a combined jobless rate of 10.9%, the highest since the SARS outbreak in 2003.






The Bank of Japan has left its policy rate unchanged at minus 0.1% and will maintain a target yield of 0% on the 10-year JGB. It said inflation was likely to remain negative for the time being and the central bank expected only a modest improvement in the economy in the near term. The BOJ said in a statement, “Japan’s economy remains in a severe state but has started to pick up as business activity gradually resumes.”








The Bank of England’s Monetary Policy Committee voted on Thursday to keep interest rates at 0.1%, in line with expectations, and also decided not to increase its asset purchase programme. The MPC warned that “the outlook for the economy remains unusually uncertain”. The Bank of England surprised investors by revealing it is examining how negative interest rates might be implemented.






Australian unemployment unexpectedly fell in August, with more than half of the jobs lost from the Covid-19 outbreak regained. The unemployment rate dipped to 6.8% from 7.5% in July and employment surged by 111,000 beating estimates of an expected 35,000 drop.






On today’s Money Talk, we’re joined by Francis Lun of GEO Securities. With a view from Australia is Toby Lawson at Societe Generale Australia.

Money Talk

A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Presented by former CEO and investment bank global trading head Peter Lewis, with over 30 years' industry experience. Join Peter and his expert guests for analysis and discussion on the day's top business stories live every weekday morning 8 to 8:30 a.m. on RTHK Radio 3. We have a podcast to download after the show and you can also listen through the RTHK Radio 3 website live or later in the day. We welcome your questions, comments and feedback to read out in the show. You can email us at moneytalk@rthk.hk, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
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