Original article by Matthew Cranston
The Australian Financial Review – Page: 7 : 4-Jul-19
Australia’s trade surplus rose to a record $5.7bn in May, eclipsing the previous high of $4.8bn in April. The big trade surplus was driven by strong growth in iron ore export volumes and the price of the steel input. Kaixin Owyong of National Australia Bank says the record trade surplus could put the nation on track to achieve a current account surplus for the first time in decades. Meanwhile, some economists have flagged the potential for another official interest rate cut in August.
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, RESERVE BANK OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, UBS HOLDINGS PTY LTD