But concerns are growing for the job market in Australia as well as business prospects, according to a member of the board of the central bank.
"The Australian economy slowed in the December quarter and business expectations about economic conditions over the year ahead are more pessimistic than a year ago," states a release issued by Heather Ridout, who also is the head of the Australian Industry Group, according to Dow Jones Newswires. "Further the labour market continues to soften with employment falling and unemployment and underemployment rising."
Friday saw Australia's 10-year bonds fall 2 basis points. This week the note increased 22 basis points.
Glenn Stevens, governor of the Reserve Bank of Australia, is slated to deliver a lecture next week in Hong Kong, Dow Jones Newswires reports. Titled "Economic Conditions and Prospects," the speech is set to follow the Tuesday release of minutes from the March RBA meeting.
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