This does nothing for the prospect for reform, in Germany or Europe in general.

Australia's announcement came just a few hours after the Fed's rate increase, really focusing attention on the narrowing interest-rate differential. The Reserve Bank will leave rates on hold for a long time ahead and the U.S. will go again in December. That's a negative for the currency.

The narrowing rate differential is bad for the Australian dollar. The trend is going to be down as the U.S. Fed keeps raising rates.

It does not fit with our present plans going forward.

I was told that you're just feeling sorry for yourself, you need to repent and start praising the Lord, ... I was more or less deserted. I was in the hospital without any visitation or anything like that.

Hence, low bond yields are ambiguous for policy. It's a classic on the one hand, on the other hand speech.

More generally, it looks like the long-awaited trend improvement in Australia's exports could be upon us.