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According to Reuters 23/04/2008, now in Australia, “The underlying inflation rate is the highest in 17 years – excluding the 2001 blip created by the GST start, Reuters reported.” The high interest rate and high inflation rate would make a lot of people suffer, but it also provide me enough time to make some deposit before the date when some claimed to have interest rate reduced until probably April 2009.
Referring to SMH.com.au 23/04/2008, “The Australian dollar surged to the highest since 1984 after a government report showed consumer prices rose at the fastest annual pace in seven years, spurring speculation the central bank may resume raising interest rates.” Currently the Australian dollar reached to 95.17 US cents, which is the highest since March 1984.
Anyway, we have to wait to see in the future.
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