recently nudged up their key interest rates

recently nudged up their key interest rates Economists at UBS said in a research note thatmac dvd ripper the central bank’s willingness to raise rates yet again also probably reflected a concern that strong commodity prices and investment activity would cause the overall economy to grow faster than currently projected, necessitating higher rates later.

The central bank has raised the key cash rate by a total of 1.25 percentage points since Oct. 7.

Voracious demand for Australia’s mineral wealth, from the regional economic powerhouse China in particular, is contributing to impressive growth. At the same time, Australia’s banking system, like those in other parts of the Asia-Pacific region, was not caught up in the turmoil that sent many financial institutions elsewhere to their knees.

“Australia’s terms of trade are rising, adding to incomes and fostering a buildup in investment in the resources sector,” Mr. Stevens said Tuesday.

“Under these conditions,” he added, “output growth over the year ahead is likely to exceed that seen last year, even though the effects of earlier expansionary policy measures will be diminishing.”

Several of Asia’s fast-growing emerging economies have begun to normalize interest rates or scaled back other stimulus measures.

India and Malaysia have both recently nudged up their key interest rates.

Others, like China, have raised so-called reserve ratios for banks, a tool that effectively reduces the amount of loans they can make.

Indonesia kept its key benchmark rate unchanged at 6.5 percent on Tuesday, but analysts are expecting a rate increase there in the third quarter of this year.