Archived News for Professionals in Federal Government - June, 2012
The Reserve Bank of Australia (RBA) has cut the country’s official cash rate by 25 basis points, reducing the interest rate to 3.50 per cent. The RBA’s board cited stagnant global growth and a deteriorating situation in Europe as the main influencing factors. The RBA found that financial market sentiment has continued to deteriorate over the past month, partially informed by the conditions in Europe.
The central bank warned that available indicators suggest continued modest growth in the first half of 2012, with significant variation across sectors. The RBA cited a gradual firming of the labour market, notwithstanding the spate of high profile job shedding.
“At today's meeting, the Board judged that, with modest domestic growth and a weaker and more uncertain international environment, the outlook for inflation afforded scope for a more accommodative stance of monetary policy,” RBA Governor Glenn Stevens said.
CHA finds billions to be saved
Catholic Health Australia has released a study which has found that up to 500,000 people could avoid chronic illness, $2.3 billion in annual hospital costs could be saved and Pharmaceutical Benefits Scheme prescriptions cut by 5.3 million if a better understanding of the determinants of health issues was to be found.
Federal Government announces aged $57.5 million for aged care
The Federal Government has announced $57.5 million in funding for aged care to be split between Victoria and New South Wales.
Victoria TAFE cuts raise Federal ire
The Federal Government has warned ‘the clock is now ticking’ on up to 2000 Victorian jobs after the Victorian Government announced its plans to cut $300 million from the state’s training organisations.