It is evident that Central Banks in advanced capitalist nations such as Australia are serious about reducing annual CPI inflation, which was 5.4 per cent in the September 2023 quarter. Raising the cash rate quite sharply can be an effective tool at reducing medium- and long-term inflation expectations, but this has its implications

Question: For both Australia and the US, present data in a simple table of

 (i) the cash rates and

 (ii) the exchange rates (expressed in AUD terms) for two points in time over this 18-month period: late-March 2022 and late-September 2023. Comment on the changes in the Australian dollar as the Reserve Bank of Australia (RBA) has followed suit in raising its own cash rateand identify and describe one winner and one loser from the change in AUD.