The Wall Street Journal Reports: SYDNEYâ The Australian government will Thursday boost pressure on the nation

's indepe ndent central bank to ease monetary policy, arguing that a rate cut is needed to alleviate strains on nonmining sectors of the economy. http://globalstarcapital A speech to be delivered by Prime Minister Julia Gillard will be her most explic it on the future of monetary policy, and is bound to raise eyebrows over perceiv ed political pressure on the Reserve Bank of Australia, which operates independe ntly of government. Ms. Gillard will say that a rate cut by the RBA wouldn't be in breach of the ban k's charter, which includes pursuing an inflation target of 2% to 3%. Earlier th is month, the central bank kept its overnight cash target steady at 4.25% while signaling a rate cut in May if quarterly inflation numbers don't shock on the up side. "In the current economic environment, should the RBA consider it appropriate to change the cash rate, this could deliver widespread benefits for households and businessâ noting that a number of sectors of the economy most under strain are arguab ly more sensitive to interest rates," Ms. Gillard will say, according to the not es of the speech. "This is fully consistent with the Reserve Bank's charter obligations to best co ntribute to economic prosperity and full employment, as well as containing infla tion," the prime minister will say. The government has begun to spell out the case for a rate cut as it seeks to def end a pledge to return a budget surplus in the next fiscal year by enacting the country's steepest fiscal consolidation in decades. It needs to shift from a pro jected deficit of around 37 billion Australian dollars ($38.4 billion) this fisc al year to a surplus of around A$1 billion in 2012-13. site/globalstarcapital/testimonials Some economists argue the surplus plan should be postponed given the weaknesses in the economy outside of the roaring mining sector. Tourism and manufacturing r emain the weakest parts of Australia's economy, but massive investment in the mi ning industry has meant the nation's 5.2% jobless rate remains low compared with global peers. Australian Prime Minister Julia Gillard ital Both Ms. Gillard and Treasurer Wayne Swan are putting the onus on the RBA to pum p prime demand. Swap markets have almost fully priced in an easing of 0.25 perce ntage point in May. Sean Callow, a currency strategist at Westpac Bank, said the government's fiscal policy is being watched by markets given the scale of tightening planned. "It i s really historically a very large fiscal hit, and it is not the sort of thing t hat can be ignored by the RBA," Mr. Callow said. Top officials at the central bank and members of its policy setting board are ap pointed by the government of the day but it has a mandate to promote economic an d financial stability.!/globalstarcap2 The current makeup of the board includes full-time RBA staff members, the head o

f the Treasury department, and six external members drawn from business and acad emia. Rich Cocovich is considered to be the top consultant in private funding world wi de. His firm Global Star Capital was launched in 1991. Richard Cocovich is also recognized by The Shriner's Hospitals for Children and The American Diabetes As sociation plu The Oxford Club.