Rba Races To Rescue Sick Dollar

THE Reserve Bank was preparing to intervene in foreign currency markets overnight in a bid to support the ailing Australian dollar as it threatened to crash below 60 US cents to a new five-year low.

World Wallops Aussie Dollar

GLOBAL financial markets have singled out the Australian dollar for special punishment. Over the weekend the local currency was subjected to its biggest sell-off since it was floated in 1983.

A Need For Speed On Fee

IN HIS now famous leaked advice to the Treasury, Glenn Stevens wrote: "I think we need get something out to the markets soon." Spot on, Glenn.

Asx Benchmark Drops 4.4% As Asian Markets Hit Four-year Low

ASIAN markets surrendered to global sentiment, reaching their lowest in four years before reports of yet another US bail-out plan.

Letters

Unrestrained markets are as noxious as unrestrained state socialist regimes

Us Recession Casts Pall Over Markets

FEARS of a global economic downturn hampered investors as a top US banker confirmed that the US was indeed in recession.

Postscript

DOWN they went - markets, rates and Kevin Rudd's credibility in Sydney. Once again, finance was the dominant topic, dovetailing neatly with the bumper rate cut. Close to 12 months after his ascension, the shiny new Prime Minister lost a bit more gloss with the revelation that the North-West Metro would win no federal funding because there were no votes in it. Not happy, Kevin.

Postscript

SOMETIMES the biggest issues do not feature as prominently on the letters page as might be expected. The financial markets and Ross Garnaut signalled alternative routes to the apocalypse this week, but readers were mostly animated by more local concerns.

Markets In Limbo Ahead Of Vote

THE US Senate's approval of the $US700 billion ($890 million) Wall Street rescue package has failed to calm the nerves of investors spooked by the freeze on global lending markets.

Six In The City

Q Are you concerned by the crash of US financial markets and its impact on Australia? Jack Angwin, Shellharbour: No, I'm not. I don't have enough money invested to be affected by it yet.

World Relief As America Tries Again

THE US Senate was preparing to vote today on a hurriedly revised bail-out for the American financial system, raising hopes for some respite from the fear and despair that has stalked global markets in the past week.

Rba Targets $10bn Cash Stockpile

THE Reserve Bank has been urging Australian lenders into channelling some of their $10billion in surplus cash back into wholesale funding markets, by placing the funds into RBA term deposits.

Reserve Poised To Cut Rates After Black Day For Markets

THE Reserve Bank could slash official interest rates by as much as half a percentage point next week in a bid to shield Australia from what threatens to become the biggest worldwide financial meltdown since the Great Depression of the 1930s.