AUSTRALIA leads the world, and a bloody good thing it is, too. This is the theme of the response to Glenn Stevens’ bold 100-point cut to interest rates. I agree with it, and congratulate the Governor of the Reserve Bank of Australia and the RBA board for their boldness at a time of great global…
No two financial crises are exactly the same. There are times to be an observer, watching from the sidelines. And there are times to act. A week ago Monday, when the Dow Jones Industrial Average plunged 777 points after the House rejected the proposed $700 billion rescue legislation, the Nasdaq Composite dropped through my latest…
HOMEOWNERS will receive the biggest single reduction to their mortgage payments in 16 years after a worried Reserve Bank slashed interest rates by one percentage point yesterday to shield the economy against the global financial crisis. None of the major banks will pass on the cut in full but Westpac, the Commonwealth Bank, the NAB…