Australia raises rates - again

Australia’s central bank raised its benchmark interest rate by a quarter percentage point for an unprecedented third straight month amid mounting evidence of a strengthening economy, reports Bloomberg. The Reserve Bank of Australia increased the overnight cash rate target to 3.75% from 3.5%, as widely forecast by economists. Central bank policy makers say the economy has entered a “new upswing” that will last several years, boosted by rising consumer confidence and China’s demand for resources.

http://ftalphaville.ft.com/blog/2009/12/01/86296/australia-raises-rates-again-2/

 

i reckon they will do quite well.