RBA Says Inflation Forecast Little Changed From February

The transcript discusses the RDA's unchanged inflation and GDP forecasts, with increased confidence in gradual inflation rise. It highlights economic improvements in Queensland and WA, but notes persistent job market spare capacity. The Aussie dollar remains stable despite commodity export declines. The RBA is closely monitoring China's demand impact. The federal budget's reliance on iron ore prices is emphasized, with fluctuations significantly affecting government finances.

What is the significance of the iron ore price in relation to the federal budget?

What are the potential implications of fluctuations in the iron ore price for the government?