OECD stated that the Fed and BoJ interest rate policies are appropriate, sees possible BoE interest rate cut; supports ECB "no bias" policy stance at this time. The OECD raised its 2008 GDP forecast for the US to 1.8% from 1.2% prior view and lowered each of the European GDP outlook.
(PD) Poland Central Banker Filar stated that Polish Inflation should slow down to 4.7% in October. He added that the central bank should raise interest rates laterthis month
Thai Central Bank confirmed FX market intervention to support Thai Baht
Australian Central Bank lowered interest rates for the first time in 7 years by 25bps to 7.00%.
In energy: Hurricane Hanna becomes a Category 1 storm, little change in strength seen over the next 24 hours. NYMEX front month crude continues to fall as Gustav failed to inflict severe damage to oil operation in the Gulf of Mexico. IEA stated that early signs point US Gulf Oil facilities have avoided big damage. An OPEC Delegate stated that oil prices remain high even at $109 per barrel level. The unnamed delegate noted that members are considering a rollover at next week OPEC meeting. The National Hurricane Center (NHC) noted that Tropical depression #10 formed in the Atlantic
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