Look after our own paddock first

WILL we survive another month without an interest rate rise.

It seems absurd that we have to worry about such an event as the world apparently teeters on the edge of financial disaster week in and week out.

And this is at a time when Australians seem far from comfortable about the state of the economy.

It’s almost as if the powers that be enjoy having us all on edge, never letting us get too complacent.

Surely, anyone remotely concerned about the state Australian business is in, as it deals with a new tax system, rising fuel costs and ever-increasing global competition would find it difficult to lump an interest rate hike on them as well.

There is also the case of the differential between US rates and our own.

The evidence has shown that investors have switched their sights on the US for a whole host of reasons.

All the praise heaped on the Australian economy’s resilience and unprecedented growth has hardly sparked a rush of foreign investment.

Perhaps we should cater for the needs of our own businesses rather than worry too much about whether or not we are a few basis points behind what the US Federal Reserve considers appropriate.

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