This Aussi Central Banker Gets It...

07/01/08 11:04AM EDT
Overnight, the head of the Reserve Bank of Australia, Glenn Stevens, did the right thing in signaling that he is done raising rates for now. Since he has been aggressively raising interest rates to address the inflation levels that he proactively predicted, he has earned the objective right to pause, and focus on worrying some about decelerating economic growth in Asia.

Unlike Bernanke's deflated cheap money 2% Fed Funds rate, the Aussi rate is 7.25%, and earning the Australian population who soberly saves a respectable return on cash.

KM
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