australia central bank hikes 2012 growth forecast
Last Updated : GMT 00:16:19
Arab Today, arab today
Arab Today, arab today

Australia central bank hikes 2012 growth forecast

Arab Today, arab today

Arab Today, arab today Australia central bank hikes 2012 growth forecast

London - AFP

Australia’s central bank upped its annual growth forecast on Friday after a strong first half, but it warned that resources investment — a key driver of the economy — would peak by 2014. The Reserve Bank of Australia (RBA) said it now expected growth of 3.5 percent for 2012, instead of the 3.0 percent forecast in May, with the domestic economy powering on at above-average pace in the first six months of the year. Australia’s mining-driven economy expanded 1.3 percent in the three months to March — a result hailed as “remarkable” by the government given the cooling in China and Europe’s woes. Even if some of the March quarter growth is revised downwards when the next growth reading is released in September, the RBA said “the data currently suggest that growth in activity may have been above trend over the first half”. A solid rebound in household spending and continued strength in resource investment were seen as the main drivers. Looking ahead, the bank warned that the boom in mining and energy-related spending was expected to peak “sometime in 2013-14” and begin modestly subtracting from growth over 2014. “That peak is expected to occur somewhat earlier than previously thought,” the RBA said in its quarterly outlook on monetary policy. “Some resource companies have adopted a more cautious approach to investment opportunities currently under consideration... given the more uncertain global outlook.” The inflation outlook was little changed at 2.50 percent for the year to December, compared with 2.25 percent forecast in May, and the bank said it saw the current official interest rate of 3.50 percent as “appropriate”. On the global front, the RBA said China’s growth was expected to pick up slightly in the second half of the year “as recent easings in fiscal and monetary policies start to take effect”. But Europe continued to weigh heavily on the outlook as a “significant downside risk” and conditions were “expected to remain weak in the euro area for some time”. “As a result of the trade and confidence linkages from the below-trend growth in Europe and the United States, growth may be dampened in much of Asia,” the bank said. Though possible scenarios included “the exit of one or more economies from the euro area”, the RBA said its forecasts assumed ongoing volatility in sentiment and financial markets without a “severe disruption” to the region.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

australia central bank hikes 2012 growth forecast australia central bank hikes 2012 growth forecast

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

australia central bank hikes 2012 growth forecast australia central bank hikes 2012 growth forecast

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday