Australian DollarAustralian interest rates

Pressure piles onto RBA as monetary war erupts

David Llewellyn-Smith
Thursday, 22 January 2015
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From Bloomie:

Global central banks intensified their battle against slowing inflation as the risk of defeat mounts.

The Bank of Canada unexpectedly cut its main interest rate for the first time since 2009 on Wednesday in Ottawa, saying the oil-price shock will drag down inflation. The Bank of Japan expanded and extended a lending program, while two Bank of England policy makers dropped calls for higher interest rates.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.