Thread: National Australian Bank

April NAB business confidence index in Australia:
Current: -14, Previous: -13

April business conditions index in Australia:
Current: -10, Previous: -17

The Reserve Bank of Australia as expected left its cash rate target unchanged at a 49-year low of 3.00% after a policy meeting earlier Tuesday.

Strong gains in global equity prices over recent weeks also likely contributed to the RBA board's decision to keep interest rates on hold. But economists have said further cuts are nevertheless likely over coming months.

Statements from Swan, Australia's Finance Minister:
- The GDP will contract 0.5% in 2009 - 2010

- The budget deficit will grow to 57.600 million Australian dollars in 2009 - 2010

Swan's comments are negative for the aussie, which is falling against the majors.
Right now, the pair is trading at 0.7652 Australian dollars per US Dollar.