By guest contributor Ken Atchison, Principal, Atchison Consultants
Among the very significant reforms of the Hawke Government was the floating of the Australian dollar in December 1983. Prior to the float, fixed exchange rates had prevailed and, as a result, policies of those countries tended to dictate Australian economic conditions. In order to maintain demand for Australian dollars in balance with the supply of Australian dollars (to pay for imports and foreign acquisitions), the Reserve Bank of...