The Australian --- Page: 26 : 2 February 2007 Original article by Scott Murdoch
ABIX Summary
On 31 January 2007 the US Federal Reserve held its cash rate steady at 5.25 per cent, which has pleased many Australian analysts. Given the announcement that US economic growth strengthened 3.5 per cent in December 2006, on an annualised basis, it is considered very likely that the Reserve Bank of Australia will similarly hold interest rates steady on 6 February 2007. Meanwhile, alongside the US monetary policy decision, the US dollar lost ground, but this in turn strengthened the Australian foreign exchange rate. On 1 February 2007 the Australian currency traded at $US0.7771.
