| The outlook for Australia’s commodity exports has been further downgraded by the Reserve Bank but, like Treasury, it still believes prices will remain permanently higher than ever before, even at the peak of the last big boom 40 years ago.
Downgrades in the terms of trade (the ratio of export prices to import prices) will be one of the main sources of revenue writedown in tomorrow’s federal budget, despite Treasury endeavouring to make the estimates included in both last year’s budget and the mid-year budget update published last December more conservative than the market consensus...............................................Full Article: Source
|