Australia's central bank is doing the right thing for the country by not cutting interest rates. Australia's debt-to-GDP ratio is nowhere near as high as the US's ratio. Australia's natural resource sector is one big hard asset hedge against high inflation in the rest of the developed world. The major economies' unprecedented monetary stimulus hasn't infected Australia with that brand of lunacy.
Hang in there, Aussies. Fiscal and monetary discipline pay off in the long run Down Under.
Full disclosure: Long FXA.