OUR USURIOUS CENTRAL BANKS:

Inflation down at time of rate rises (David Uren, February 13, 2007, The Australian)

THE Reserve Bank has acknowledged that inflation was falling in the second half of last year when it twice raised interest rates.

Any further rate rise this year is now unlikely, with the bank forecasting that inflation will drop to 2.75 per cent by June and stay there throughout this year and next.