The drive is being fed by concerns over the U.S.'s financial position and Washington's ability to defend its Asian allies long-term, these diplomats and analystssaid.
Analystssaidthese measures, coupled with signs of improvement in major economies such as the US, were likely to have a positive impact on growth in the coming months.
Analystssaid that while these moves had been positive, the downward revision in growth numbers was an indicator that the policymakers needed to do more.
However, analystssaid that while these attempts were a step in the right direction, it was unclear how the firms will drive future profit growth, not least because demand for their key products continued to remain subdued.
Analystssaid the combination of all these factors was having a negative impact on Australia's growth and that if commodity prices do not improve it may hurt long-term growth.