Rubber Dollars flying high
Jul 3rd 2003, 12:47 am
#1
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Joined: Aug 2002
Location: Perth Arse end of the planet
Posts: 7,037
Rubber Dollars flying high
The 2-1 rate is forever drawing near thanks to higher interest rates here , just think all that cash you refugees will bring will earn loads in interest here.
Downside you will have less to earn it and home prices are still on the up , plus jobs are going to be shed because of less exports .
Just think of the weather well not right now its windy and wet and bloody cold at night , but when its baking hot its still shite here.
The Reserve Bank has shied from an interest rate cut for the 13th month straight.
The decision sent the Australian dollar to a five-year high, and outraged farmers and manufacturers wrestling drought and global weakness.
As the Reserve made its intentions clear, the dollar yesterday soared as high as 67.96 US cents, with investors scrambling to capitalise on Australia's high interest rates.
Treasurer Peter Costello said the decision highlighted the relative strength of the economy.
But he warned of a less competitive economy.
"The fact that the exchange rate is rising is making it tougher for Australian exporters," he said.
But economists said the Reserve had been forced to balance those concerns against the possibility that an interest rate cut could add fuel to the overheated housing market, encouraging even more debt
http://theage.com.au/articles/2003/0...825457386.html
Downside you will have less to earn it and home prices are still on the up , plus jobs are going to be shed because of less exports .
Just think of the weather well not right now its windy and wet and bloody cold at night , but when its baking hot its still shite here.
The Reserve Bank has shied from an interest rate cut for the 13th month straight.
The decision sent the Australian dollar to a five-year high, and outraged farmers and manufacturers wrestling drought and global weakness.
As the Reserve made its intentions clear, the dollar yesterday soared as high as 67.96 US cents, with investors scrambling to capitalise on Australia's high interest rates.
Treasurer Peter Costello said the decision highlighted the relative strength of the economy.
But he warned of a less competitive economy.
"The fact that the exchange rate is rising is making it tougher for Australian exporters," he said.
But economists said the Reserve had been forced to balance those concerns against the possibility that an interest rate cut could add fuel to the overheated housing market, encouraging even more debt
http://theage.com.au/articles/2003/0...825457386.html
