Dollar lower on rate cut prospects

Dollar lower on rate cut prospects	6.08.2008

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08/06/2008		Home loan slump fuels rate cut hopes
DEMAND for home loans has fallen to the lowest level in four years, fuelling the possibility of an interest rate cut as early as next month, an economist says

08/06/2008		Dollar down on rate cuts hints
THE dollar opened at its lowest level in nearly four months today after the central bank kept interest rates steady and raised the chances of rate cuts later this year

08/06/2008		Coles cheapest on grocery website
SUPERMARKET giant Coles comes up trumps on a new website that allows consumers to compare grocery prices in their local area and elsewhere in Australia

08/06/2008		Societe Generale`s profit slumps
SOCIETE Generale, one of the top three French banks, hard hit by alleged rogue trading at the beginning of the year and also by sub-prime exposure, reported a 63 per cent slump in second-quarter profit today

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Obviously he needs another politician to copy. Well done Mr Rudd. It is clear you wish to work for the UN and as Australia's PM is a stepping stone. PS, do not forget to drop in and see Gareth Evans to shore up the votes. Gotta love those "working families" i thought your main aim was to assist them.
Posted by: Col of Syd Clone of Commodore Country 7:37am today

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Rudd meets Clinton and offers his support
Clinton says she needs all the sympathy she can get
Rudd tackling own problems over failure to visit Japan

KEVIN Rudd offered help to struggling US presidential candidate Hillary Clinton today - while also rushing to put out his own fires at home.

The Prime Minister met Senator Clinton in Washington overnight, before she headed to Pennsylvania to fight for her political survival.

As they posed for photographs, he extended an offer of assistance to the woman he calls a "good friend" and whos campaign is flagging against Democrat front runner Barack Obama.

She is also now under fire for apparently leaving a trail of unpaid bills and trashed offices across the US in the past three months.

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Mr Rudd said he understood campaigning was "an exhausting business" and told the senator: "Let us know if we can help with anything."

He said: “As one candidate ... who knows what it’s like being on the campaign trail I have every sympathy (with) what Hillary has ahead of her.”

Senator Clinton replied: “I appreciate that, I need all the sympathy I can get.”

However, Mr Rudd still had his own problems to deal with after coming under fire for bypassing Tokyo during his tour of the world`s major capitals.

He is now trying to arrange an early, one-off summit meeting with Japanese Prime Minister Yasuo Fukuda before July`s G8 summit in Japan.

Efforts to organise a special Tokyo visit have redoubled in the past fortnight, as Mr Rudd has come under political pressure at home and concern has grown in Tokyo that he was being seen to snub Australia`s most important Asian ally and trade partner in favour of China.

Japanese diplomatic sources told The Australian yesterday that Mr Rudd`s prioritising of relations with China was "well understood, though not necessarily welcomed" in Tokyo.

The Australian Prime Minister suffered a serious embarrassment at the weekend in New York when, questioned by a Japanese journalist, he admitted he had not phoned Mr Fukuda nor otherwise contacted him directly since the November 24 federal election.

Since his win, Mr Rudd has telephoned and met, or is about to meet, the leaders of the US, Britain, China, Indonesia, Iraq, Afghanistan, The Netherlands, the European Union, the UN, Spain, New Zealand, Papua New Guinea and Solomon Islands.

The Mandarin-speaking Prime Minister will spend four days in China on the home leg of his world trip, which also takes in the US and Europe.

In Washington yesterday, Mr Rudd continued to defend his stance, though again making pointed references to his plans to attend the Hokkaido G8 summit and make one other unspecified visit to Japan this year.

"It`s just a question of when things come up (that) you chat," he said. "I`m sure as needs arise there will be conversations."

Australian diplomats pointed out yesterday - and Mr Fukuda also acknowledged - the stream of Australian ministers who had visited Japan since the Rudd Government came to office.

Opposition foreign affairs spokesman Andrew Robb said the damaging spat with Tokyo over whaling alone warranted a visit to help soothe tensions.

"With your closest friend in Asia, the least you can do is pick up the phone and communicate," he said. "There is great consternation from my contacts at government levels in Japan and feedback from Australian business people."

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Swim star `was bragging`

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