Australia will enjoy healthy economic growth of 3.5% this year, according to the International Monetary Fund.
In a generally upbeat assessment of the world economy’s prospects for recovery, the IMF said that overall global growth will hit 3.5% this year, with inflation and unemployment in Australia remaining stable.
RBA hints at rate cut
The Reserve Bank has hinted that an interest rate cut will be on the cards next month, citing key consumer inflation data due out next week.
In minutes released from its last board meeting, the RBA said that it will review the 4.25% rate based on the Consumer Price Index due to be released by the Bureau of Statistics on April 24.
Amazon eyes Aussie warehouse
Amazon is looking for a local warehouse in Australia as it ramps up its activity in the Asia-Pacific region.
In a move that may alarm Australian retailers, the online giant is searching for a distribution centre that will help it cut costs and improve delivery times.
The Dow Jones Industrial Average rose by 194.13 points, or 1.5%, to 13,115.54. The Australian dollar strengthened to 103.89 US cents.