RESERVE BANK OF AUSTRALIA INTEREST RATE CUT

To: The Right Hon’ble Reserve Bank of Australia Governor Glenn Stevens

From: Athinarayanan Sanjeevraja

Date: October3, 2012

RE: Interest Rate Cut 25bps.

Good Afternoon Mr. Governor. It was definitely a prudent decision by cutting the key rate by 25 bps. The global economy is still pretty uncertain. In US, if we look at recent GDP data, there is definitely not optimism there. In Europe, economy recovery is very slow process. In addition, China economy is slowing down which is the main downside risk of Australian economy. It is my judgment that, a decline in iron ore prices compounded with stubbornly high dollar compelling you to cut key rate 25 basis points.

Mr. Governor, each and every policy decision you are proving that you are the world best central banker. Your efforts to controlling inflation, interest rate management, currency stability and economic growth goals. You are perfect Mr. Governor in your profession. I think that you have made the right move this time too. A lowering of interest rates should reduce the value of Australian currency and ease some of the pressure in the export sector. The Australian economy is recording overall reasonable growth comparatively low unemployment and low inflation.

I am hopeful that there will be positive growth in next six months. I sincerely appreciate your central bank role in the success and wish that you would keep up the good work in future too.

Thank you for attention.

I am Athinarayanan Sanjeevraja with great respect of you Mr. Governor.

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