Iron ore prices plummeted Australia's central bank expressed concern about the

According to the Wall Street Journal reported that the decision-makers of the Reserve Bank of Australia (Reserve Bankof Australia) are struggling to cope with the new economic challenges faced by the country has a wealth of resources: commodity prices fall.

Iron ore prices fell to the level of October 2009, the matter has raised the concern of the central bank of Australia, but is unlikely to promote its unexpectedly cut interest rates at Tuesday's meeting. However, Australia's export earnings may adversely affect the country's economy, which will become a more important factor in the coming months considered by the Council of the Reserve Bank of Australia all the way down.

Former members of the Board of the Reserve Bank of Australia, economists McKibbin the (Warwick Mc Kibbin) interview, said that in the past month of great change, I personally think there is a further decline in interest rates may. Until July last year, in 10 years time, McKibbin has been a member of the Central Bank Council.

McKibben believes that commodity prices fall further speed will exceed the risk of inflation or currency movements, the key issues the next few months in Australia central bank is considering whether to cut interest rates again.

Since June this year, has just completed an easing cycle, the Reserve Bank of Australia cut interest rates depresses the brake. In that cycle, the Australian benchmark lending rate cumulatively by 1.25 percentage points to 3.50%. Since then, Australia has withstood the pressure for further interest rate cuts, one of the reasons is that the exports of the country's resources not only for economic growth has played a supporting role, but also allow the Reserve Bank of Australia governor Glenn Stevens (Glenn Stevens) claimed the Australian economy This glass is half full.

Most experts agree that the view of the Australian unemployment rate is still hovering in the lower level of 5.2%, and the country's economy is still expected to grow at an average annual rate of 3.5 percent, the Reserve Bank of Australia is unlikely to be made on the Council meeting on Tuesday The decision to cut interest rates.

Australian fund AMP Capital chief economist said Oliver (Shane Oliver), we still think that will further cut interest rates, but it may be down until close to Christmas.

According to the "Wall Street Journal survey, all 15 economists surveyed believe that commodity prices plummeting, but Australia's central bank will keep interest rates unchanged. Market pricing, not much chance of the Reserve Bank of Australia cut interest rates, only 10%.

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