Scenario: The economy of Australia is performing well, on paper at least. There's just one problem: a key policy lever is acting like the economy is in intensive care. The Reserve Bank's cash rate target sits at 0.1 per cent the lowest on record. It's been at that rate since the height of the pandemic to help turbocharge the economy. However, the Reserve Bank governor Philip Lowe recently said it was "plausible" the bank could raise the cash rate target later this year. This slight change in messaging is because the economic landscape has changed. Requirement: You have been invited as a guest expert to writ a commentary column for The Weekend Australian - Business Review (https://www.theaustralian.com.au/commentary). As the author of this media article, you are to writ from the point of view of an economist, communicating the contents included within the article to the general Australian public. This will include households and businesses. To write the media article, please

1, Collect data about the GDP, employment rate and inflation rate of Australia from Australian Bureau of Statistics (ABS) [ https://www.abs.gov.au/statistics/economy/keyindicators ].

2, Based on the data you collect, your media article should give some analysis and comments to the following questions:

a), why did the Research Bank of Australia reduce the cash rate at 0.1 per cent?

b), how has the "economic landscape" changed and what implications does the change in "economic landscape" give to the cash rate adjustment?

c), based on the analysis of questions 1 and 2, do you agree with the Reserve Bank governor Philip Lowe that now the bank could raise the cash rate later this year? Any other policies do you recommend to respond to the current situation?

3, apply the macro-economic theory (for example, AD-AS model) as necessary to explain the impact of policies (reducing cash rate, increasing cash rate, or other policies). Present any graphs and analytical aggregate demand and supply frameworks in an appendix.

Research real data on economic indicators such as:

Gross Domestic Product growth rate (expenditure components)

Unemployment RateInflation Rate

Consumer/business confidence measures (e.g. Lending indicators, retail activity)

Collect data from Australian Bureau of Statistics (ABS) https://www.abs.gov.au/statistics/economy/key-indicators

Display these indicators within one or more summary tables. The word content within this table will not be included.

Summary table: could contain several quarters' quarterly data (2019-2021), or yearly data (recent years 3-5 years)