Australia’s central bank Governor Philip Lowe said he uses a framework involving interest rates and the economic-growth outlook -- currently 3 percent for this year and next -- to assess whether the local dollar is at an appropriate level.

The Reserve Bank’s outlook of the economy is optimistic. But is it just a case of hoping for the best because nothing else is working?

India’s central bank is making a habit of surprising markets. It may be in for a nasty surprise of its own if the economy hobbled by an unprecedented cash crunch fails to snap back.