October 12, 2007

Strong Aussie Dollar

The Aussie Dollar hovers around AUD0.90 cents against the USD lately - a record 23 year high. It's bad news to those who are earning USD in Australia (ie paid blogging die hards *LOL*) as well as exporters especially farmers who have already been experiencing difficulties due to the years of drought in Australia.

The funny thing is, everyday goods prices remain expensive. Worse still the RBA might raise interest rates again to curb inflation! So what's all the big hoo haa about the income tax cuts ... it's all gone back to paying higher interest rates on mortgages and such.


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