Ministerial Brief - Assignment

Added on -2020-02-18

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Running head: MINISTERIAL BRIEF Ministerial BriefName of the StudentName of the UniversityAuthor Note
1MINISTERIAL BRIEF Table of ContentsProjection of future rate on interest: Australia................................................................................2Purpose:.......................................................................................................................................2Strategic Context:........................................................................................................................2Effects of low rate of interest on the economy of two regions:...................................................3a) State of Victoria:......................................................................................................................4b) Western Australia:...................................................................................................................5Technical Appendix:....................................................................................................................6References........................................................................................................................................7
2MINISTERIAL BRIEF Projection of future rate on interest: AustraliaPurpose: The overall purpose of the ministerial brief is to discuss about the current growth of theeconomy of Australia, in terms of different macroeconomic indicators. The purposes are detailedas follows: The current interest rate levels prevailing in the economy (Plumb, Kent and Bishop 2013)The projected rate of interest which is expected to prevail in Australia in the comingyears The impact of the expected interest rate on the economy of two regions: State of Victoriaand Western Australia Strategic Context: The Australian economy, after experiencing the economic crisis and its negative impacts inthe last few decades, has started gaining back pace in its economic growth in the last fewyears. This is reflected in the GDP statistics of the country in the last few years. The current growth rate of GDP has been more or less near 3% and according to the forecastof Reserve Bank of Australia, the rate is expected to remain at the same level for the comingyears (Dyster and Meredith 2012). The growth rate of employment rate has gained impetus in the recent months in the country,which implies that apparently the household consumption is expected to increase in thecountry. However, the overall consumption rate has not shown substantial increase due to theprevalence of low real wage rates in the economy as a whole, barring few exceptions.

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