A low-interest rate climate in USA and Europe seems very favourable to growth, especially for people who want to start enterprises, buy houses, or do bigger things like building resort complexes or manufacturing units or whatever. When money is cheap to borrow, it is always the most favourable period, when most people hesitate to borrow, but the in-the-know and the brave ones borrow and start....and reap rewards in due course.
By comparison, the news of Indian Industrial Output is that it is down to 4.1 percent. The RBI Interest rate is 8.5 percent, and outside even much higher. The cue seems to be obvious, but the decision on 17th April by the RBI will signal whether it is well received or not. Indian manufacturing industries need input of cheap rate loans, and that will sustain many jobs and feed a lot of people.
The Oil price needs to head south, that is imperative, unless people wish to see the leading indicators of slowdown turn into a real nightmare. With sensible adjustments, all will sail through with a modest and continued worldwide economic Recovery for 2012, for that I pray.