It actually has been a fairly remitted reform from officials in general.
We think this is definitely possible to achieve. Economic growth is of course slowing in China, but this is largely due to cooling investment, particularly in the property sector and in heavy industry, rather than weaker consumption.
More rate cuts are necessary and we expect the next cut approximately in March/April.
Of course, the development of exports is the key to economic growth in New Zealand.
I believe we have rather an optimistic view for this year, which is largely supported by a fiscal stimulus.
The BoE's inflation report will have to slash the forecasts over the next year, because oil prices are falling very sharply.
I think there are benefits from improved education of the poor in terms of supply, although, clearly, they take time to arrive.
The rate cut implemented by the Bank of Canada is similar to one that the Norges Bank did back in December 2014.
In our view, the reason the SNB decided to take this action is because of the QE announcement expected the following week.
I believe I agree with the statement, since early Bitcoin exchanges were fly-by-night operations that were vulnerable to fraud and hacking.
I do expect a positive impact on the economy, since the experience of the US and UK over the past few years showed that QE works.
I suppose it really depends on how you define term "manageable" in this particular matter.
First of all, the sharp drop in the oil price and the current fall in the Euro exchange rates combine for a strong stimulus program for the Euro-zone economy, but they work in different ways.
I disagree, since oil prices are not driven solely by industry fundamentals of supply and demand.
First of all, I would like to say that I disagree a bit with the diagnosis.
We expect the Euro continues to fall in Q1 of next year.
We believe the Pound will most probably fall against the US Dollar.
I believe that slowdown in Chinese property sector has certainly laid on commodity demand in over the past six months, but there has also been a fairly strong uptick in supply. Hence, the major global resource companies are increasing supply to the market.
The Euro is certainly under a little pressure against the Dollar, due to the very likely decision of the ECB to increase bond purchasing including sovereign and corporate bonds, while at the same time the Fed is thinking about tightening policy at some stage.
As for the economic development, I would mostly agree with the idea that it should remain rather positive and favourable for the US. The employment figures have proved to be solid and above expectations.
Obviously, corporations have been quite cautious in terms of deploying cash; hence, it would be worth saying that it is not a unique agenda. Statistical data may show that these circumstances are somewhat more common in Canada than elsewhere.
It is reasonably obvious that the Euro Area's economy is struggling to register any growth at all nowadays.
First of all, to my mind, the Swiss gold referendum appeared likely as a short-term momentum, where price for bullion has suffered a decline right after the vote results were out.
Despite the weakness in PMI figures, we do not expect any major downgrade of UK growth, as fundamentally the economy is still moving in the right direction. We target growth of 2.6% and 2.8% in 2015 and 2016, respectively.