From the AFR:
As the nation’s most important commodity export – iron ore – traded above US$63 a tonne, official figures showed the terms of trade jumped around 4.5 per cent in the September quarter.
That was the biggest gain in five years and the first back-to-back quarterly increase since early 2011, confirming a growing sense that the economy will soon enjoy an export-driven trade wind that should eliminate the need for more Reserve Bank of Australia rate cuts.
