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The mining tax is finally through. Compared to other resource nations, especially those in the developing world, who change ownership laws, local content laws and royalties at the drop of a hat, miners are probably quite pleased that the final version took 3 years and is somewhat watered down.

In what some saw as a surprise move, the RBA decided to leave rates on hold for another month. This was somewhat justified by a couple of good numbers released through the month including a drop in the unemployment rate back to 5.1% and a tick up in consumer confidence and business sentiment.

Weakness in some areas of the economy still have many expecting the RBA to continue to loosen its monetary stance.

December saw the second straight month of interest rate cuts by the RBA in an attempt to aid the struggling retail, manufacturing and service sectors.