Yes, Us economy is in a much hotter position and is more advanced on business/interest rate cycle. They are taking about 0.75 % raises Aust. is 0.5%. Further the Us will drive the relativities in world interest rates it's at least 5 to 10 X bigger an economy than Aust. . Aust. will follow working off what the effect of the us is. During the week Dr Lowe complained that the 3 month inflation read on in Aust. was too slow relative to the monthly read in US & Europe. ( the B Reserve bankers there laughed). it's also likely with housing price & leverage Aust. is more sensitive than the Us (the currency relative to the Us being a damper) so the RBA will ( need to ) be more careful.
In summary Us will overshoot on interest rate raises Aust. less so.
All IMVHO.
BTW almost all I've said is well known and in the Au price , currency relativities and interest rates spreads etc.
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