1.   Fraser pointed to strong retail sales, employment growth and the depreciating Australian dollar as factors which potentially will fuel inflation.

2.   The simplest explanation for the failure of the depreciating dollar to slash the trade deficit is that it has not depreciated nearly as much as most people assume.

3.   Traders are now indicating that the central bank should raise official rates to protect the depreciating dollar while tempering growth to avoid a surge of inflation down the road.

4.   Traders are now hinting that the central bank should raise official rates to protect the depreciating dollar while tempering growth to avoid a surge of inflation down the road.

5.   The depreciating dollar makes the fight to stabilize prices even more difficult.