Hong Kong Inland Revenue Department: Reducing the tax reserve certificate interest rate to 0.7167%, effective from November 4th.
The Hong Kong Inland Revenue Department announced today that starting from November 4, 2024, the new annual rate for interest on tax reserve certificates will change from the current 0.8000% to 0.7167%, which means that under the new rate, 0.0597 yuan of interest can be earned per 100 yuan per month.
Australia's PPI in the third quarter rose by 0.9% quarterly and 3.9% annually in the Economic.
Australia's Bureau of Statistics announced that excluding exports, the Producer Price Index (PPI) for the third quarter of Australia, calculated based on final demand (measuring the change in prices of consumed goods and services without further processing), rose by 0.9% quarterly, down from the previous increase of 1%. On an annual basis, it increased by 3.9%, down from the previous rise of 4.8%. (da/w)~
The manufacturing PMI final value of Australia in October was revised upwards to 47.3, surpassing expectations.
According to Judo Bank/Standard & Poor's Global, after seasonally adjusted, Australia's October Judo Bank manufacturing purchasing managers' index (PMI) final value was revised upwards from the previous value of 46.7 to 47.3, higher than market expectations confirming the initial value fell to 46.6, but still in contraction for nine consecutive months, although the contraction rate has slowed down, overall it is moderate. In October, new orders for commodities in Australia decreased again, continuing the trend of contraction in new orders for nearly two years; at the same time, the decline in export orders is even more significant, mainly affected by reduced demand in major export markets. Due to the inflow of new orders and a decrease in output, procurement activities have also decreased.
Hong Kong's third-quarter local gross domestic product is estimated to increase by 1.8% year-on-year.
The Census and Statistics Department of the Hong Kong government released the preliminary estimate of the Gross Domestic Product for the third quarter of 2024.
Hong Kong's GDP grew by 1.8% year-on-year in the third quarter, exceeding expectations.
Great Wall News October 31st｜Hong Kong's third quarter GDP annual rate initial value 1.8%, expected 3.1%, previous value 3.30%; quarterly initial value -1.1%, expected 0%, previous value 0.40%.
Market Analysis: Surging government spending will restrict australia's central bank's room for interest rate cuts.
On October 31, the Royal Bank of Canada chief economist Su-Lin Ong said that strong public demand has been a characteristic of the Australian economy for many years, with public demand currently accounting for about 28% of GDP, higher than 19% ten years ago. She added that these expenditures have significantly boosted government sector employment and also intensified wage pressures. She said that starting from May 2025, the Reserve Bank of Australia finally began cutting interest rates, with these domestic fundamentals implying a more moderate 50 basis points easing cycle. She added that the changes in the job market next year will largely determine the direction.