"Why, the Queen asked recently, did nobody notice? She was talking about the credit crunch and the pertinent question wrong-footed academics at the London School of Economics, who were presumably expecting chit-chat rather than direct interrogation."
This was in a report about royal frugality in the Daily Express on 28 November, 2008.
The Queen's comment could well apply to Australia. Until recently, even although the subprime crisis was looming,the Reserve Bank and the government were in a lather over inflation. Interest rates were being increased to fight this.