Rate cut speculation hurts dollar : "Mr Robertson said a global credit squeeze, caused by US sub-prime market worries, would prompt the US Federal Reserve to cut the US Federal funds rate from its present 5.25 per cent."
At least we know what a sub prime market is these days. It may have lost billions and impacted our market here, but I have never heard our financial experts so experts. I have become aware just how much our financial advisors know, how closely they watch everything and how practical they are in their approach. They are feeling happily challenged, engaged and are int heir element because they actually have something to talk about and have come into their own. All this share nonsense has made them chirp away so enthusiastically and given them a real run for their money. Good on them for turning negatives into positives and for applying their skills. I am really really sorry for the Americans who have been caught out by the sub prime mortgage deals and our financial experts have clarified that for us so we can feel genuine concern for them.
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