Australia raises rates - again

Discussion in 'Economics' started by ASusilovic, Dec 1, 2009.

  1. 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.
  2. i reckon they will do quite well.