To the extent that this is a long-term or structural change, the inflation targeting framework would allow the appreciation to be reflected in inflation, to the extent that it meant that non-traded (domestic) prices would rise faster than the target. On most counts, this is o.k.
After a period of relative stability in the 1980s and early 1990s, Australia’s trade relationships have changed significantly in the past decade. This has been driven by the rise of China and, more recently, India.