Please I want to get a basic idea of what things drive interests rates up or down. The info below are the 8 things I had some concern around and if they get worse what would that do to inflation in Australia?:

(1) US subprime/US bank problems; (2) US trade deficiting; (3) US personal credit debt; (4) world food crisis; (5) high oil prices; (6) If the US situation gets worse I guess some countries may switch to using the Euro as there reserve. (7) Also with Iran Oil Borse wanting to trade in Euros this could open the gate for other countries to trade their oil and other commodities in currencies other than US $. (8) In Australia we just had 2 banks ANZ and NAB have big write downs.