Policy-makers around the world will grapple with these issues in the period ahead. For now, I shall turn to the Australian economy. The Australian economy The terms of trade The Australian economy, like all other industrial economies, is adjusting to higher energy prices.
In addition to the direct disruption to international trading arrangements, adverse developments in the UK economy have a general spillover impact in Ireland, via export demand, the value of Irish-owned operations in the UK, asset prices and confidence effects.