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As it happened: Banks fuel 1.8% ASX surge to three-week high – The Age
The ASX rose by as much as 2% and finished Monday’s trade at a three-week high, powered by gains for the heavyweight financials.
Investors are getting their head around the fact that monetary policy is going to remain accommodating for a long, long, long time, he said.
The 104-page statement revealed downgraded estimates for Australia suggesting the economy will not be strong enough to withstand an interest rate rise until at least 2023.
Mr Miller now expects the RBA to do more easing, which would be good for domestic banks. The banks share prices increased significantly amid low trading volumes on Monday. Commonwealt…
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