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Interesting contrast between the our two countries. Australia has taken the fight to inflation rather then a recession while we have done the opposite. Pretty cool to see them doing that.
http://biz.yahoo.com/ap/080306/europe_interest_rates.html
“…Meanwhile, Australia’s central bank raised its key interest rate to 7.25 percent the same day, its highest level in 12 years, to combat inflation.
For Trichet, concerns about inflation are more important than fears about a U.S. recession or even a rising euro.”
Makes me proud to be an Ozzie! Wait, I’m not. D’OH!
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