IMF Staff Country Reports

Australia : 2009 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion;

Author/Editor:

International Monetary Fund

Publication Date:

August 7, 2009

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This 2009 Article IV Consultation highlights that following a prolonged expansion, reflecting sound macroeconomic policies and favorable terms of trade, global events have slowed Australia’s economic growth well below trend. The turmoil sparked by the collapse of Lehman Brothers in September 2008 had an immediate impact on Australian markets. Executive Directors have commended the authorities for their timely policy response, which has effectively cushioned the impact of the global financial crisis on the Australian economy. Directors have also welcomed the Reserve Bank of Australia’s early reductions in the policy rate.

Series:

Country Report No. 09/248

Subject:

Article IV consultation reports Bank regulations Bank supervision Banks Economic growth Economic indicators External shocks Financial crisis Financial sector Fiscal policy Inflation targeting Monetary policy Public information Staff Reports