Budget Paper No. 1: Budget Strategy and Outlook 2018-19 ...

The scenario assumes that there is no change in the exchange rate or interest rates. Under a floating exchange rate, however, a change in the terms of trade would be expected to lead to a movement of the exchange rate in the same direction. ... in the June quarter 2014 to 2.5 per cent in the December quarter 2018. At the same time, year average ... ................
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