That is right, despite clear indications of soft domestic demand and inflation far below target for some months to come.
We would agree with most analysts that the RBNZ will indeed cut its key rate again.
While we agree that membership of the EU has boosted the UK economy, we doubt that the outlook depends on the result of EU referendum.
Both Brent and WTI crude oil rose quite significantly.
I think the businesses are generally ready for such an increase, provided there is reassurance that the move will not be followed by a large number of similar ones in coming months.
I think that the recovery we had has come almost entirely from consumer spending.
At the end of August the Yen appreciated on back of growing global risk aversion.
We have been positive on gold for quite a while on back of very low interest rates and continuing jitters on equity markets, as well as on the geopolitical issues and diversification by the central banks.
My opinion is that the RBA has a difficult balancing act, conciliating a weak global economy and, in particular, a slowing economy in China.
At the current moment, it is very unlikely that inflation will rise anywhere near 2% in the foreseeable future without further easing from the Bank of Japan
To start with the GDP forecast, I think we are seeing a relatively strong rebound in the third quarter.
Basically, we are expecting the EUR/CHF to range trade around recent levels between 1.05 and 1.1050, which is the highest level that we have reached in September.
We are very upbeat about the prospects for the UK economy, however, in the near term the activity indicators have softened a bit.
I suppose we will see a slightly weaker Euro, because of the ECB's tendency to expand its QE programme further.
An easing bias remains, but it is not as explicit as in July when the RBNZ's outlook changed significantly.
Asia-Pacific economies are now feeling the pinch of a Chinese economic slowdown, being under large downward pressure.
The current price weakness of commodities is due to a combination of factors.
Our current forecast is for the recession of 3.5% up to 4% this year, but not significantly worse.
I am not sure whether I would use the word "perilous", but I agree in a sense that the surprising growth of the Swiss economy in the second quarter does not necessarily indicate that Switzerland has barely been affected by the Franc shock following the SNB's decision to abandon the minimum exchange rate regime.
I suppose that China has only become a scapegoat over the last three days.
As you may observe the historic data during the last two years when the Yen has found its peak, the depth of the adjustment was five figures.
I also expect that Japanese economy will remain stagnant for a while from now.
The primary reason behind this move was to make Chinese exports more competitive
With the commodity prices collapse, Canada's stagnating economy could force its central bank to deploy the type of extraordinary stimulus adopted in the US, Europe and Japan. With the rate now at 0.5%, it is nearing the point where other central banks decided to begin bond buying programs to force rates lower still and help companies borrow more cheaply. In