| Soulmate wanted, must be centre-left
THE Australian Democrats, on the brink of oblivion, are searching for political soulmates to forge a new Centre-Left party. The party formed by Don Chipp 30 years ago with the promise to "keep the bastards honest" is considering a much-needed overhaul. In an extraordinary confession, Democrats leader Lyn Allison, who led the party to its worst election result in November, admitted the party brand was no longer tenable. Senator Allison confirmed the Democrats' national executive had decided to talk with fringe political groups, such as the Climate Change Coalition, in a desperate bid to regain relevance. One of four Democrats senators due to leave Parliament on June 30, she said "all options are on the table". Senator Allison said the party could not survive by doing nothing.
Busy Week For Interest Rates, SSGA Says
(RTTNews) - Next week will find every major central bank we cover in action, says State Street Global Advisors economist Geoffrey Somes - with the notable exception of the Fed (the FOMC holds its next scheduled monetary policy meeting on March 18). While the Bank of England (BoE), the European Central Bank (ECB), and Bank of Japan (BoJ) will each hold rates steady, the Bank of Canada (BoC) will cut its overnight rate target by at least 25 basis points and the Reserve Bank of Australia (RBA) may hike its cash rate target for the second straight month and the fourth time in eight months. Although the BoE will likely hold the line next week, it will cut the official Bank Rate from the current restrictive 5.25 percent over the next several months to a more neutral 4.50 percent. The BoE has cut rates twice since December in 25 basis point increments but has signaled that further easing will be executed gradually and cautiously because of significant inflation risks.
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