November 2011
Beginner
335 pages
9h 33m
English
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Australia
Australia's top Cash Rate is the same as the Prime Rate in the United States and is currently 4.50 percent. This rate hit a low of 3.00 percent in February 2009 and has been rising ever since. This says Australia's economy has weathered the financial storm since the Lehman Brothers collapse far better than its counterparts.
What further helped Australia was this quote from the March 2010 Financial Stability Report, “Six months to January 2010, total deposits in Australia increased by an annualized rate of 4 1/2 percent, 2008 to 2009 saw total deposits increase by 25 percent.”
Australia's central bank, the Royal Bank of Australia (RBA), conducts open-market operations at 9:30 a.m. Bank repo bids and offers begin at 9:30 Australia time ...
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