Reserve Bank of Australia Outlines Framework for Additional Monetary Policy Tools for Low Interest Rates

The Reserve Bank of Australia said its Monetary Policy Board has disclosed a framework outlining how it would approach the design and use of additional monetary policy tools in a low-interest rate environment, according to a Monday statement from the central bank.

The bank said the toolkit features six tools, including term lending facilities, government bond purchase programs, forward guidance with commitment, negative interest rate policy, term rate targets, and foreign exchange asset purchases, with further tools able to be added over time.

The Monetary Policy Board could use some of the tools for various purposes, including to stimulate aggregate demand when the policy rate is very low, to address market dysfunction and sustain or repair monetary policy transmission channels, and to meet its statutory obligations of contributing to financial stability, the bank said.

When preparing advice for the board, staff will detail options for how tools could be exited, including planning both for the end of the policy and for the return to normal settings, it added.

Cargo Traffic to Los Angeles Port Expected to Rise in Week Ending July 11

Cargo traffic at the Port of Los Angeles is expected to rise in the week ending July 11, according to data from ship-tracking system Port Optimizer.A total of 141,100 20-foot equivalent units, a standardized measure of cargo capacity, are projected to reach the port in the week, the data showed. That volume reflects an 18% increase from the previous week and a 19% rise from a year earlier.Twenty-six freight vessels are scheduled to arrive at the port in the week ending July 11, the data showed. That compares with 23 vessels scheduled this week and in the week ending July 4.President Donald Trump said in a Truth Social post on Friday that numerous European countries are discussing the imminent implementation of a digital services tax on US companies and warned that any country that proceeds with such a tax will face a 100% US tariff regardless of any previous trade deals.

Kansas City Fed Services Index Falls in June

The Kansas City Federal Reserve's monthly composite services index fell to a reading of 5 in June after rising to 10 in May, suggesting a slower expansion.The other regional services measures already released have indicated a mixed reading.There was a decrease in the Kansas City revenue/sales reading to 3 from 12, while the employment reading decreased to 1 from 5.The reading of selling prices declined to 16 from 20, while the input price index decreased to 51 from 54. A reading above zero indicates growth.

Reserve Bank of Australia Outlines Framework for Additional Monetary Policy Tools for Low Interest Rates

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International2d ago
Cargo Traffic to Los Angeles Port Expected to Rise in Week Ending July 11
Cargo traffic at the Port of Los Angeles is expected to rise in the week ending July 11, according to data from ship-tracking system Port Optimizer.A total of 141,100 20-foot equivalent units, a standardized measure of cargo capacity, are projected to reach the port in the week, the data showed. That volume reflects an 18% increase from the previous week and a 19% rise from a year earlier.Twenty-six freight vessels are scheduled to arrive at the port in the week ending July 11, the data showed. That compares with 23 vessels scheduled this week and in the week ending July 4.President Donald Trump said in a Truth Social post on Friday that numerous European countries are discussing the imminent implementation of a digital services tax on US companies and warned that any country that proceeds with such a tax will face a 100% US tariff regardless of any previous trade deals.

International2d ago
St. Louis Fed US Q2 GDP Nowcast Estimate 1.258% Gain vs Previous 1.429% Gain

International2d ago
Kansas City Fed Services Index Falls in June
The Kansas City Federal Reserve's monthly composite services index fell to a reading of 5 in June after rising to 10 in May, suggesting a slower expansion.The other regional services measures already released have indicated a mixed reading.There was a decrease in the Kansas City revenue/sales reading to 3 from 12, while the employment reading decreased to 1 from 5.The reading of selling prices declined to 16 from 20, while the input price index decreased to 51 from 54. A reading above zero indicates growth.