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Fundamental News Summary
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Asian Session News Summary
Fri, Nov 6 2009, 06:38 GMT
by ecPulse.com analysis team
The RBA's quarterly monetary policy statement
The Reserve Bank of Australia released its quarterly monetary policy statement today saying that economy will grow more than previously forecasted as the bank raised its economic expansion forecasts in 2009 to 1.75% compared with the previously expected 0.5%, while the economy is anticipated to expand 2.25% by mid 2010.
The RBA said that the Asian region is leading global recovery and the region's financial systems didn't show same deteriorations as in other regions. However, the bank said that interest rates will be raised gradually in the upcoming period.
Japan's leading index rose in September
Japan's leading index preliminary reading rose to 86.4 in September compared with a previous 83.2, while it came higher than analyst's estimates of 86.2. On the other hand, the coincident index preliminary reading came in at 92.5 in September higher than the previous 91.2 and inline with forecasts.
The IMF resident representative in China recommended that credit growth should slow
Tarhan Feyzioglu the International Monetary Fund's resident representative in China said that the nation should begin to slow credit growth as it may result in excess industrial capacity and it may affect the finance industry negatively. Tarhan expected the Chinese economy to grow 8.5% this year and 9% next year along with rising private investment.
Published on Fri, Nov 6 2009, 06:42 GMT
Archive
- US Session News Summary
Published On Fri, Nov 20 2009, 21:12 GMT - US Session News Summary
Published On Thu, Nov 19 2009, 21:10 GMT - Asian Session News Summary
Published On Thu, Nov 19 2009, 05:48 GMT - North America News Summary
Published On Wed, Nov 18 2009, 21:04 GMT - European Session News Summary
Published On Wed, Nov 18 2009, 14:26 GMT
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