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Even a short war with Iraq could cost the world 1% of its economic output over the next few years and more than US$1 trillion by 2010, two noted Australian researchers said.
Americans bought foreign goods in December rather than stimulating domestic output, wholesale inflation surged last month and manufacturing suffered in February, a surprisingly poor set of US economic reports showed this week.
The Australian dollar powered through 61 US cents to a three-year high yesterday after the Organisation for Economic Co-operation and Development (OECD) praised Canberra for its sound management that made Australia one of the world#039;s best performing economies.
THE US dollar Asian Bond Fund (ABF) launched yesterday will be a stepping-stone to ABF bonds denominated in regional currencies.
Australia#8217;s central bank said yesterday it may follow its peers in cutting interest rates if the global economy did not improve, shifting to an easing bias from a neutral stance in place since last November.