Analysts cutting Asian growth forecasts

This morning we saw the Australian government lower its growth forecast for 2012 to 3.25% from 3.75% and we also heard from the Bank of Korea who said they are likely to also lower their growth estimates. Now, coming on the back of the Stephen Roach warning, we have two major banks also lowering their China growth estimates for next year. Little wonder that the market is pricing in some 175bps in interest rate cuts for Australia by Q3 2012.