Interesting how banks such as the Commonwealth are scrambling to snap up 'bargains', spending hundreds of millions of dollars taking over their smaller competitors in the midst of the global financial crisis when there's (allegedly) not enough money / confidence to go round, and they certainly couldn't possibly afford to pass on fully cuts in interest rates...
I also fail to comprehend how the Aussie dollar can free-fall against the Greenback when the economy here is in relatively good shape, the banking sector is relatively robust and interest rates relatively high, whereas the US economy is going down the toilet, the US banking system is rotten to the core and their interest rates negligible.
I'm sure there's some logically explanation, other than keeping petrol prices at the bowsers here artificially high... answers on a postcard please!
About Me
- David
- I'm an archaeologist, researcher and author - last year I published a book on the archaeological remains of the little known Ghurids of central Afghanistan, which was the topic of my PhD at La Trobe University. So I scribble a fair bit - I hope that some of these musings are of interest / amusing.
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