Dive regulator

Economies everywhere are following Australia's entice on rates, writes Ambrose Evans-Pritchard.

The liquidity tide is turning. Authorities across unrestrained b generally parts of the world have either begun to tighten the spigot or are taking steps to wean their economies off exigency stimulus. This is a treacherous moment for markets.

Oil-rich Norway raised rates 0.25 points to 1.5 per cent on Wednesday, the first European native land to move since the crisis. The Norges Bank governor, Svein Gjedrem, said asset prices had ''risen suddenly and probably excessively''. The bank is taking pre-emptive action to choke off a land bubble, although manufacturing remains sluggish. The era of ''asset targeting'' has begun.

Keep blowing DIN regulator O-ring - ScubaBoard

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