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The Australian dollar could surge in all-out trade war, RBA study finds
Australia's real exchange rate could surge and gross domestic product drop in the event of an all-out global trade war, Reserve Bank research conducted in March suggested. The study, released Wednesday in response to a Bloomberg Freedom of Information Act request, ran three key scenarios. Under the worst-case third outcome, the US applied a 20 per cent tariff on goods imports from all countries, including Australia, and every nation except Australia then retaliated by slapping equivalent fees on their US goods imports. It found Australia could be less exposed under the worst scenario than economies that rely more on ... (full story)
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