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canada goose coats CANBERRA (Reuters) Floods devastating huge canada goose uk black friday areas of Australia eastern seaboard, including the nation third largest city, look set to be cheap canada goose uk the costliest natural disaster ever in a country known for climatic extremes, Treasurer Wayne Swan said on Monday. canada goose coats
canada goose clearance sale Residential areas west of Brisbane are inundated by canada goose store flood waters January 13, 2011. REUTERS/Tim Wimborne canada goose clearance sale
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looks like this is possibly going to be, in economic terms, the largest natural disaster in our history, he told Australian television.
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La Nina has also caused major flooding across a third of Sri Lanka, destroying 21 percent of the nation staple rice crop and raising fears of food inflation, while one million people were affected by heavy rains canada goose black friday sale in the Philippines.
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Queensland Premier canada goose Anna Bligh announced a judicial inquiry into the devastating floods on Monday, looking at issues including the operation of dams built to protect major cities.
cheap Canada Goose Central bank board member Warwick McKibbin last week warned that the Queensland floods could cut 1 percent off growth equal to almost $13 billion, when lost production and infrastructure destruction were taken into account. cheap Canada Goose
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canada goose clearance Apartment towers on the Brisbane River front are surrounded by floodwaters in Brisbane January canada goose clearance 13, 2011. REUTERS/Tim Wimborne canada goose clearance
JP Morgan said Australia inflation risk had intensified due to the post flood rebuilding programs about to commence and given that the economy was already at employment The independent central bank could be forced to tighten rates more assertively in the medium term, it said.
canada goose black friday sale Early forecasts from analysts suggest economic growth for the current quarter could be halved to around 0.4 percent. canada goose black friday sale
The floods were also likely to cause a spike in some food prices, lifting inflation modestly in the current quarter, while the huge scope of the canadian goose jacket rebuilding could add to price and wage pressures later in uk canada goose outlet the year.
As a result, analysts see little chance of the Reserve Bank of Australia (RBA) raising interest rates again in the next two to three months, but a heightened risk of Canada Goose online tightening once the full impact of the reconstruction is felt.
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The Queensland state capital Brisbane, which was Canada Goose Outlet flooded last week, reopened its Canada Goose Jackets central business district on Monday as a massive clean up continued canada goose jacket across dozens of suburbs which were underwater only days ago.