Australia: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Australia

September 30, 2015

Preview Citation

Format: Chicago

Australia: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Australia, (USA: International Monetary Fund, 2015) accessed September 18, 2024

Summary

This 2015 Article IV Consultation highlights that the Australia’s economy is now facing a large transition as the mining investment boom winds down and the terms of trade has fallen back. Growth has been below trend for two years. Annualized GDP growth was about 2.2 percent in the first half of 2015, with particularly weak final domestic demand, and declining public and private investment. Capacity utilization and a soft labor market point to a sizeable output gap. Nominal wage growth is weak, contributing to low inflation. The FY2015/16 Budget projects a return to surplus in 2019–20.

Subject: Banking, Capital adequacy requirements, Financial regulation and supervision, Housing, Housing prices, Income, Inflation, National accounts, Prices

Keywords: Asia and Pacific, Capital adequacy requirements, Consumer confidence, Consumer confidence confidence indicator, CR, Financial market volatility, Global, House price inflation, Housing, Housing prices, Income, Inflation, Iron ore price, ISCR, Liability positions vis-à-vis nonresident, Market expectation, Price

Publication Details

Pages:

65
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/274
Stock No:

1AUSEA2015001
ISBN:

9781513543239
ISSN:

1934-7685

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