A recent news posted in Herald Sun confirms that the world’s top central bankers began arriving in Australia. It is assumed that they are gathering up for a secret summit supposed to held at a venue that has been kept confidential till now. Analysts say that this can be a possible outcome of renewed fears about the strength of the global economic recovery that has already gripped most of the world share markets.
Representatives from 24 central banks and monetary authorities including the US Federal Reserve and European Central Bank landed in Sydney to meet tomorrow at a secret location. The event will be dominated by Asian delegations and is expected to include governors of the Peoples Bank of China, the Bank of Japan and the Reserve Bank of India.
The arrival of the high-powered gathering coincided with a fresh meltdown on world sharemarkets, sparked by renewed concerns about global growth and sovereign debt. Fears countries including Greece, Portugal, Spain and Dubai could default on debt repayments combined with disappointing US jobs data to spook investors.
Australia’s ASX 200 slumped 2.4 per cent, to a its lowest close since November 5, echoing a sharp fall on Wall Street. Asian share markets were also pummelled, with Japan’s Nikkei 225 down almost 3 per cent and Hong Kong’s Hang Seng slumping 3.3 per cent.
The outlook for global growth is likely to be a key theme of the high level central bank talks.
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