So, with the first of the baby boomers now older than 60, and many more of this generation right behind them, we know that the shifting age distribution of the population has begun to have, and will continue to have, a direct impact on the supply of labour in the economy, and thus, on the growth of our economy's potential output.
The standing of the Australian dollar as a world currency is recognised by its inclusion in the first wave of seven currencies in the CLS System or Continuous Linked Settlement System for foreign exchange settlement which is scheduled to come into operation in 2001. The other currencies are the US dollar, euro, yen, Swiss franc, pound and Canadian dollar.