Australia’s central bank took the hatchet to its benchmark interest rate Tuesday, cutting 75 basis points to 5.25%, the lowest since March 2005. Since the start of September, the Reserve Bank of Australia cut interest rates three times for a total of 200 basis points, in an attempt to insulate the economy from the global financial crisis.
Ah! This is more like it! You know how the official, Consumer Price Index (CPI) inflation figure was 3.0% last month? Well, I don’t know about you, but that felt a bit low to me. I buy things.
Is this the year gold breaks from its seasonal pattern and enjoys a summertime rally?
Monetary policy “walking a tightrope”…1,300 jobs go in the Square Mile… Britain’s second largest bank to go cap in hand to shareholders for a large dollop of cash..? Rice hits a record $1,000 a tonne…and one in ten face that old wealth destroyer from the early ‘90s: negative equity. So where to start..?