For retail customers this translated directly into a larger product range at lower prices. That is good both for customers and for competition. Providing advice and expertise to enterprises is a key investment banking service, and one from which German firms have benefited. That requires putting down roots in the real economy and offering a real service.
The US dollar, the Australian dollar and inflation Over the course of this year, the US dollar has appreciated significantly against the currencies of both advanced and emerging economies (Graph 4). The 12 per cent appreciation of the US dollar in trade-weighted terms, is consistent with the rapid rise in US interest rates relative to those of many other economies, including Australia.