the western australian paper, page-4

Australia is a mature economy, interest rate changes are generally done on the basis of controlling inflation.

China is a developing economy growing around 2-3x the pace of ours. An interest rate rise in a developing economy *can* have a much greater effect on growth than in a mature economy. They want to ensure the economy doesn't overheat, leading an epic inflation problem to look after. And the currency being pegged to the USD, normal market conditions that would effect import/exports based on a fluctuating currency doesn't happen the same way in China as it does in Australia.

On that basis you can't really compare the 2 economies...

To use the Wayne Swan quote of 2010, we've got a 'two speed economy'. I've seen the interest rate changes effect peoples spending and investment decisions over here on the East coast, but you may have bene sheltered from it over in the West.