| Ends 2-day meeting today , Bank of Japan ( BOJ ) decided to keep monetary policy when the economy is growing again and escape deflation . Traders said the stimulus measures will have to wait until the new BOJ can assess the impact of the increase in consumption taxes began to be implemented from next April . AUD rose sharply this morning after Australia 's rising inflation expectations reduce the Reserve Bank of Australia ( RBA ) would cut interest rates in a meeting early next month . |
The report 's statistics agency showed that Australian consumer price index ( CPI ) increased by 0.8 % of the country in the last quarter of 2013, higher than the 0.5 % forecast by analysts . Compared to the same period last year , Australia 's CPI rose 2.7 % , exceeding the 2.4 % forecast made ??earlier .
Economic information published today include minutes of meetings of the Bank of England ( BOE ) and the unemployment rate in the country. BOE can not move any policy changes at its meeting held on 09 / 01 last .
The analysts predicted , Britain's unemployment rate continued to decline from 7.4 % to 7.3 % , close to the BOE 's target of 7% . The pound will rise sharply if the country's unemployment rate fell faster than expected , accelerating the time of the BOE rate hike .
GOLD PRICE REDUCED BY optimistic economic forecasts
Gold prices fell more than 1 % in trading yesterday due to pressure from the positive economic news . The International Monetary Fund ( IMF ) has raised its forecast of global economic growth in 2014 to 3.7 % from 3.6 % forecast made ??in October last year . This is the first time the IMF improving global economic outlook in almost 2 years. U.S. economic growth is also forecast at 2.8 % , higher than the previous figure given was 2.6 % .
Currently investors are cautious ahead of Fed meeting takes place next week . If the Fed continues to cut program of quantitative easing at this meeting , will pressure gold prices fell sharply .
(sources: collection)
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