For a continuation of the worldwide economic Recovery, in my opinion the price of Oil is far too high - both WTI and Brent, which hit parity recently and have been both in backwardation on the far futures contracts.
The holding of or reduction of benchmark rates in accommodative policies is brilliant, and the only way forward. The Australian Reserve Bank, U.S. Federal Reserve and Bank of England are setting the tone for continuation of Recovery.
Mr Raghuram Rajan has been appointed Governor at the Reserve Bank of India, and assumed his post there on 5th September. In his name are coded the most fond Hindu wishes in Godhead, just as they chant Raghupati Ragav Rajaram. Hope he will set policies to utilise the various fiscal tools he has at his disposal, and help renew expansionary growth in the Indian economy. It is noted that he is a gregarious, media-friendly personality, so presumably the world will hear more about what he has in mind.
Oil price at anything above $85 per barrel is too high, and will continue to slow down the world economies. When people are unable to feed themselves and their children in Yemen and other places, most of the developing world I would surmise, it is time for the OPEC nations to pause and consider what would be best for everybody. Growing unemployment in South Africa (over 25 percent) and other countries, where social security is not a state policy, does not indicate a robust world picture. It is imperative that the Oil price be reduced, for continuation of worldwide economic Recovery, which in turn will be able to sustain infrastructure growth in the OPEC and other nations.
Israel with an unemployment rate of over 25 percent could do with international goodwill for their technologically advanced products, and a peace in that region can only help bring the oil price down and help the economies in that region. In a cooling off of tensions lies the way forward to peace and prosperity.
Enlightened souls who help govern the policies, the duty is yours to do the needful.