The reason why I choose this article is because it is a good sign for Australian to keep alert in inflation.
Now in Australia’s 20th year of growth as a mining investment boom intensifies, an expansion in Australia’s economy will boost inflation pressures in coming years, said by Central Bank Deputy Governor Ric Battellino . Between October and May, The Reserve Bank of Australia, which has led 20 Nations Group in raising borrowing costs six times, kept interest rates unchanged on Aug. 3 for a third month, partly on concern economic growth may slow in the U.S. and Europe. Chinese demand for resources is prompting companies such as Chevron Corp. to boost investment, driving down unemployment and potentially worsening a shortage of skilled workers. In the past year, the rate of the central bank increases have helped the Australian dollar to be the third best performing currency among the 16 most traded. The local dollar has gained 40 percent since March 2009. Policy makers predicted that until the end of next year, inflation will average 2.75 percent, before accelerating to the top of the bank’s 2 percent to 3 percent target range by mid-2012. In early October, to prevent inflation from accelerating, the central bank increased the overnight cash rate target by 150 basis points, or 1.5 percentage points, to 4.5 percent in May from a half-century low of 3 percent.
I think this is a good thing that the central bank is being careful on inflation. However, no one knows the future; as a result Australia must keep an eye on inflation continuously.
This is too short. You need to have more information in your summary of the article.
ตอบลบKwan, you have not paraphrased this article enough. You have copied too much of the original article. Unfortunately, many of your blogs have not been paraphrased enough.
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