Leave rates alone, outlook is getting better: UBS chair THE global chairman of investment bank UBS believes interest rates in Australia do not need to fall any further, and has painted an optimistic outlook for the local economy, but believes ongoing instability in Europe will continue to weigh on corporate deal-making and capital markets activity in the year ahead. In a wide-ranging interview, Axel Weber was also optimistic about Chinese economic growth bottoming at 7 per cent before rising towards 8 per cent in the coming year, which he said would continue to underpin the growth of the Australian economy and others in the surrounding region.