Wednesday, 28 October 2009

Benchmark interest rates this year

The Australian dollar reached the highest level versus its U.S. counterpart today after the national central bank Governor affirmed that the current crisis in the country may not be as serious as considered previously.This declaration helped the Australian currency to climb to the highest level versus the greenback as several other factors propelled the Aussie to peak at the current level. Interbank futures indicated a significant chance that interest rates will be raised in Australia by the end of the year, helping the Aussie to climb versus most of the 16 most traded currencies. If confirmed, Australia would be the first country among the G-20 nation to raise its benchmark interest rates this year.

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