Australia Joins in the Recession Despite Lack of Acknowledgment by Aussie Leaders

[cieldumort]

As recently as Monday, the Reserve Bank of Australia kept its benchmark cash rate unchanged at 3.25%, suggesting that it had already done enough to keep the Australian economy out of the worst clutches of the sprawling global recession, than not a day later official government data shows that the country contracted 0.5% during the final three

Comments

[nebris]

Denial is a wonderful thing. =)

~M~

[cieldumort]

They've clearly been hoping that their isolation from "the rest of the world" would insulate them from the meltdown.