2 Bank of Australia governor Stevens said that as at the end of June of the year, the global economy grew faster than the average trend; but the next year, economic growth or slow down. But the emerging economies remain strong recovery and economic growth more sustainable, while the developed economies will shrink.

Stevens also said the Australian economy over the past year to maintain good growth, as demonstrated by the government in the past few quarters has been a significant boost public spending in domestic demand growth, while continuing to promote the expansion of foreign trade and sustainable national income increased. The bank is also expected in the next few years, private sector spending, especially business investment will grow substantially.

Analysts believe that benefit from China and other emerging economies to stimulate demand for raw materials soared, Australian economy has been running well Jinnian, Recent economic data also show that the strong recovery of the country is on track, this is the normalization of monetary return cycle to the bank , laid the foundation for inflation expectations. Data show that Australia in the second quarter GDP up by 3.3% in the third quarter, CPI increased 2.8% year on year, are better than market expectations.

Or continue to raise the nominal interest rate

Stevens said in the statement of monetary policy, the country’s steady decline over the past two years, the trend of price levels or are near completion. Although recent data show that the rate of inflation in the country, or to 2.5%, but the data may be due to the tobacco tax increase uplink. Therefore, the bank decided to maintain the rate of inflation may be on the rise in the next few years to judge, decided to start tightening monetary policy.

Sekesita Moody’s analyst, said in Sydney, Australia inflation the central bank tried to “kill in the cradle.” He said, “in 2007, the bank’s tightening policy has failed to stop the price level Shanghang; this time they will not again.” ANZ Bank, Australia Cole, head of economic research, said Horn, by Australian mining to prosper, Australia central bank may still continue to tighten monetary policy, this also means that the bank will continue to raise the nominal interest rate future, to avoid negative real interest rate appears.

But on Nov. 2 in the currency markets, the Australian central bank to raise interest rates so that the resolution against the U.S. dollar Australian dollar jumped, the European currency touched $ 1.001 more session, to re-enter “1 to 1” areas. However, Stevens seems down “with confidence.” He said the Australian dollar rose this year, reflecting the developed economies of Australia and other differences, but also help the bank to control inflation pressures; This Australian Deputy Prime Minister and Finance Minister Swan “stronger Australian dollar reflects the economic situation in the country for the better “The attitude of mutual” embraced. ”

India’s central bank to raise interest rates again by 25 basis points

India’s central bank to raise interest rates in line with market expectations, due to inflationary pressures in the country continued to remain high. Data show that the wholesale price index in India in September (WPI) increased 8.6% year on year, faster than August’s 8.5%. Since the beginning of the year and the line normalization of monetary policy, open access has raised the repo rate have been accumulated and reverse repurchase rate by 1.5% and 2%.

Suba Rao, India’s central bank governor said the bank raised its key interest rate based on three considerations. First, the country’s strong economic growth; the first quarter of fiscal year GDP growth of 8.8% that the Indian economic growth has recovered to pre-crisis levels, while domestic demand is also largely against the expansion of the global economic slowdown negative impacts. Second, inflation to stay high; with the United States, Japan and other developed economies, a new round of the introduction of quantitative easing, a large interest rate differential and the Equity Premium pursuit of international hot money will flow into emerging economies including India, the body, push Price levels and asset prices. Third, although the anti-inflation stance led to a certain extent, the shortage of market liquidity, but the line is still the subject of liquidity at a reasonable interval to ensure that economic activities are not restricted.

Indian economist Jay Shankar believes that the Indian central bank to raise interest rates to ensure that the price level will not be out of control, but also attract more international hot money inflows. In this regard, Suba Rao said the bank would take action to mitigate any potential excessive volatility of capital inflows and domestic liquidity impact of imbalances, the bank monetary policy and price and output stability objectives.

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