HERE is a large part of the problem ! RUDD 100 days the good days have gone. We will be down the creek just like our neighbor New Zealand in no time following a Green/Labour Party policy. Get your cycles polished up this weekend we will all need some stress relief in the coming months.
DJ MARKET TALK: Aussie PM Says Challenges Ahead After 100 Days
2251 GMT [Dow Jones] Australian PM Rudd, marking 100 days in office for his newly-elected Labor government, says government "still has a long way to go" in addressing key economic challenges like checking inflation pressures, fixing infrastructure bottlenecks; reiterates commitment to curbing government spending to avoid stoking domestic demand further. Near term path for Rudd government looks increasingly rocky as strong data all point to further tightening of policy screws by RBA; PM declines comment on whether RBA will hike rates - as widely expected by economists - to 7.25% next week; but he does say basic economic theory dictates that "if inflationary pressures continue to build there'll be upward pressure on interest rates". Comments indicate government already resigned to further hikes. (RAP)
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