Now 2%, Australia’s benchmark interest rate is not even half the 6% level seen in October 2008 and not even a third of the 7.25% rate seen in March 2008.
“In China, Australia’s biggest trading partner, anxiety has heightened over its economic outlook following a stock market slump and a surprise yuan devaluation in August that roiled global markets,” according to Bloomberg.
iShares MSCI Australia ETF
