Since the 1990s, Australia has undertaken a series of significant economic reforms aimed at liberalizing the economy, enhancing competitiveness, and integrating more deeply into the global market. One of the major shifts was the continuation and deepening of deregulation policies that had begun in the 1980s. The banking and financial sectors experienced substantial reform, including the removal of interest rate controls, the entry of foreign banks, and the floating of the Australian dollar in the previous decade, which continued to influence market-driven monetary policy. These measures aimed to make the financial sector more efficient, resilient, and globally competitive. Trade liberalization formed a cornerstone of Australia’s economic reforms in the 1990s. Tariff reductions across various industries, particularly in manufacturing, were implemented to promote export competitiveness and consumer