CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

Australia's central bank upgrades economic growth forecast

08-10-2012 15:45 BJT

SYDNEY, Aug. 10 (Xinhua) -- The Reserve Bank of Australia (RBA) on Friday upgraded its economic growth forecast for Australia in its latest quarterly Statement of Monetary Policy.

The RBA now expects the Australian economy to grow at an average 3.5 percent in 2012, up from its May forecast of 3.0 percent. "While the forecast for growth in the second half of 2012 is similar to that in the May statement, the stronger-than-expected growth in the first half of 2012 has boosted the forecast for GDPgrowth over 2012 to 3.5 percent." the RBA said in the statement released Friday. "The economy is then expected to grow at around 3 percent over 2013 and 2014."

Economists say the central bank seems confident about Australia' s economic growth in the near and medium term, despite an acknowledgment of possible risks from the euro zone.

 

 

Editor:James |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program