Buying carbon credits near record low prices in global markets would cost-effectively ensure Australia meets its pledge to cut emissions by 5 percent, an industry group told the nation’s new government.
Traders are betting Australia’s dollar will extend its biggest decline in five years as policy makers flag that intervention to weaken the currency is an option, 30 years after they dropped exchange controls.
Canadian aboriginals are preparing what they call the first-ever sale of tribal debt backed by taxes and other revenue, earning an investment grade rating by pooling together the funding needs of dozens of communities.
Australia’s central bank Governor Glenn Stevens said the local currency’s level isn’t supported by costs and productivity in the economy and the nation’s terms of trade are more likely to fall than rise. The Aussie dropped.
Texas Governor Rick Perry asked residents to pray for rain in 2011 during the worst drought in state history. Now he wants voters to approve spending $2 billion on top of a record borrowing to boost water supplies.