Thank you, 佛,菩萨 ...

... for arranging someone who recognised us as new birds and patiently explained the proceedings to us

... for putting familiar faces there so that we won't feel so awkward

... for letting us be one of the earlier recipients

... for having the 主持 remember me, and giving me some tips

... for letting us find a carpark lot very quickly back at home

... and finally, for providing an empty lift so that we don't have to explain anything to anyone.

Thank you.



Image credit here.

Post Date: 16 Feb 09

RBA slashes official interest rate

Original article here.

3rd February 2009, 12:30 WST

The Reserve Bank has slashed the official interest rate by one per cent today, taking it to its lowest level since the 1960s.

Following the Rudd Government's $42 billion package to kickstart the economy, the Reserve board cut the official cash rate to 3.25 per cent.

For a person with a $300,000 mortgage, the cut will be worth $182 a month if fully passed on by commercial banks.

In a statement, bank governor Glenn Stevens said the near term outlook for the global economy was the "weakest for many years", although he added that conditions in Australia were much better than those overseas.

However, problems were intensifying while the threat of inflation was receding.

"The combination of last year’s financial turmoil, a severe global downturn and substantial falls in commodity prices has had a significant dampening effect on confidence, and therefore on prospects for growth in demand," he said.

Mr Stevens drew special attention to the Government's package, effectively giving it the Reserve's seal of approval.

"In making its decision, the board took into account the package of measures announced by the Government earlier today," he said.

"The combination of expansionary monetary and fiscal policies now in place will help to cushion the Australian economy from the contractionary forces coming from abroad."

Since September, the bank has cut the interest rate by four per cent - the deepest cuts in the shortest time frame in the Reserve's history.



Post Date: 3 February 2009