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|WELLINGTON Cheap Marko Dano Jersey , Aug. 10 (Xinhua) -- New Zealand's central bank left its official cash rate (OCR) unchanged at 1.75 percent on Thursday.
Global economic growth has become more broad-based in recent quarters, but inflation and wage outcomes remain subdued across the advanced economies, and challenges remain with on-going surplus capacity, Reserve Bank of New Zealand governor Graeme Wheeler said in a statement.
Bond yields are low, credit spreads have narrowed and equity prices are at record levels, Wheeler said Cheap Jack Roslovic Jersey , adding that monetary policy is expected to remain stimulatory in the advanced economies, but less so going forward.
The trade-weighted exchange rate has increased since May, partly in response to a weaker U.S. dollar, he said, adding that a lower New Zealand dollar is needed to increase tradables inflation and help deliver more balanced growth.
Gross domestic product growth in the March quarter was lower than expected, adding to the softening in growth observed at the end of 2016 Cheap Tobias Enstrom Jersey , Wheeler said.
"Growth is expected to improve going forward, supported by accommodative monetary policy, strong population growth, elevated terms of trade, and the fiscal stimulus outlined in Budget 2017," he said.
Top political advisor calls for progress in ethnic unity
Aftermath of 7.0-magnitude quake in Jiuzhaigou Cheap Steve Mason Jersey , SW China
Gong wins China's first gold medal, surprise victories for Warholm and Francis
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ATHENS, Aug. 1 (Xinhua) -- Despite rising tourist arrivals in recent years, the annual revenues for those working in the tourism sector have declined as visitors are spending less money on average, a survey released Tuesday by the Labor Institute of GSEE Cheap Nic Petan Jersey , the umbrella union of private sector employees, showed.
Three out of ten Greeks, or 15.5 percent of Greece's workforce, work in the tourism sector, according to the survey. Between 33 and 39 percent are indirectly employed in tourism sector.
Traditionally, the tourism industry is one of the stronger growth drivers of the Greek economy Cheap Adam Lowry Jersey , accounting for about 18 percent of the country's gross domestic product (GDP), even during the years of the debt crisis.
However, revenue from international tourism in recent years has declined, as foreign visitors have reduced their length of stay in Greece and with this comes a drop in spending. In 2005, the average tourist spent 10.7 days in Greece and 745.7 euros per trip compared to 6.9 days and 470.5 euros per trip in 2016, the survey found.
The annual revenue from international tourism arrivals last year reached around 13.2 billion euros Cheap Shawn Matthias Jersey , down 6.4 percent compared to the previous year, according to a recent report from the Bank of Greece.
Regarding domestic tourism, the picture seems gloomier: 53.6 percent of Greeks can't afford a week's holiday this year, while the average is 33 percent for the entire European Union (EU), according to Eurostat data released on Monday.
Greece expects to welcome more than 30 million visitors in 2017, up from 27.5 million people in 2016 and 25 million in 2015 Cheap Matt Hendricks Jersey , according to the Greek tourism ministry. (1 euro = 1.18 U.S. dollars)
China marks PLA's 90th anniversary with grand rally
China issues commemorative stamps to mark 90th birthday of PLA
Nanchang Uprising commemorated in east China's Jiangxi
World's first panda cub born to captive and wild parents
Military parade held to mark PLA 90th birthday (Part I)
SWAT team members take part in drill
Acrobatic show staged in China's Xinjiang
Martial arts competition held in China's Henan
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