IlluMyFi

Financial markets don’t expect a cut until April but a fall in the Australian dollar on Monday suggests confidence one is on the cards

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A shopping surge on Christmas and Boxing Day could help determine the timing of interest rate relief as the Reserve Bank of Australia watches for a recovery in weak economic activity.

Consumers are predicted to splash $3.7bn in the last week of 2024 on top of an expected $70bn in the lead-up to Christmas, according to projections from the Australian Retailers Association and Roy Morgan.

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02.01.25 11:57

by theguardian.com

UK factory output falls at fastest rate since February amid tax rise fears

Manufacturing PMI in December at 11-month low as government policy ‘dampens confidence and raises costs’

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Manufacturers in the UK cut back output last month at the fastest rate since February, compounding the gloomy picture for the British economy, according to a closely watched survey.

The purchasing managers’ index for manufacturing fell to 47, down from 48 in November – the weakest for 11 months. Any reading below 50 signals a contraction.