FOREX TradingCharts.com

Financial News: RBA's Bullock Says Recovery To Be Unpredictable And

RBA's Bullock Says Recovery To Be Unpredictable And Uneven

10/27/2020 - 06:23:00 (RTTNews)

(RTTNews) - Reserve Bank of Australia Assistant Governor Michele Bullock on Tuesday said Australia's economic recovery is likely to be unpredictable and uneven.

She cautioned about rising business insolvencies and problems for some households in servicing their debts amid uncertain recovery.

Despite the devastating effects of Covid-19 pandemic, the financial system both in Australia and overseas has withstood the test, the banker said.

The Australian financial system remains profitable, notwithstanding substantial loan loss provisions. Their strong capital position allows them to continue to lend to support the Australian economy, Bullock noted.

The banker observed that non-performing loans to households, which had already risen over the past couple of years, are expected to continue to rise over the coming months.

She observed that the impact on bank balance sheets of the rise in non-performing loans will depend on whether the value of the property is enough to cover the outstanding debt.

As there is only a very small share of loans is currently in negative equity, losses to banks on housing loans will be limited, Bullock added.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Australia Data On Tap For Thursday (21 min(s), 29 sec(s) ago)
(RTTNews) - Australia is scheduled to release a batch of data on Thursday, setting the pace for a ...Full Story»

Most Fed Districts Characterize U.S. Economic Growth As Modest Or Moderate (02 hr(s), 31 min(s), 29 sec(s) ago)
(RTTNews) - Economic growth in the U.S. has been characterized as modest or moderate by most Feder ...Full Story»

U.S. Private Sector Job Growth Misses Estimates In November (07 hr(s), 57 min(s), 29 sec(s) ago)
(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector employment ...Full Story»

U.S. Private Sector Employment Rises Less Than Expected In November (08 hr(s), 29 min(s), 29 sec(s) ago)
(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector employment ...Full Story»

Eurozone Unemployment Rate Continues To Fall (09 hr(s), 20 min(s), 29 sec(s) ago)
(RTTNews) - The euro area unemployment rate continued to fall in October with the gradual relaxati ...Full Story»

Ireland Jobless Rate Rises In November (09 hr(s), 43 min(s), 29 sec(s) ago)
(RTTNews) - Ireland's jobless rate rises in November, figures from the Central Statistics Offi ...Full Story»

Portugal Industrial Production Growth Slows (09 hr(s), 56 min(s), 29 sec(s) ago)
(RTTNews) - Portugal's industrial production grew at a softer pace in October, figures from St ...Full Story»

Italy Jobless Rate Rises In October (10 hr(s), 09 min(s), 29 sec(s) ago)
(RTTNews) - Italy's jobless rate rose in October, data from the statistical office ISTAT showe ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Australia Data On Tap For Thursday

12/02/2020 - 16:30 PM (RTTNews)
(RTTNews) - Australia is scheduled to release a batch of data on Thursday, setting the pace for a ...Full Story>>

Most Fed Districts Characterize U.S. Economic Growth As Modest Or Moderate

12/02/2020 - 14:20 PM (RTTNews)
(RTTNews) - Economic growth in the U.S. has been characterized as modest or moderate by most Feder ...Full Story>>

U.S. Private Sector Job Growth Misses Estimates In November

12/02/2020 - 08:54 AM (RTTNews)
(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector employment ...Full Story>>

U.S. Private Sector Employment Rises Less Than Expected In November

12/02/2020 - 08:22 AM (RTTNews)
(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector employment ...Full Story>>

Eurozone Unemployment Rate Continues To Fall

12/02/2020 - 07:31 AM (RTTNews)
(RTTNews) - The euro area unemployment rate continued to fall in October with the gradual relaxati ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.