Australia: Staff Report for the 2006 Article IV Consultation
IMF Staff Country Reports, October 23, 2006
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- Australia: Staff Report for the 2006 Article IV Consultation
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Bibliographic details
- Published: October 23, 2006
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451802115.002
Macroeconomic outlook and monetary policy
- Economic growth is strengthening, stimulated by the high terms of trade.
- Monetary policy has been tightened appropriately.
- Recommendation: A flexible monetary policy response to potential external shocks, including commodity price swings, will help to cushion growth while preserving low inflation.
Financial sector stability and supervision
- To promote robust risk management practices by financial institutions, the government intends to conduct further stress tests and review the regulation of banks’ liquidity.
Fiscal position and use of revenues
- The recent surge in revenues provides resources that should be used for the implementation of reforms in sustaining strong economic growth.
Subjects and keywords (as listed)
- Subjects: Budget planning and preparation, Commodity prices, External debt, Income, Inflation, National accounts, Prices, Public financial management (PFM)
- Keywords: Australia, Budget planning and preparation, commodity price, Commodity prices, core CPI, core CPI inflation, CR, debt, export commodity price, Global, headline CPI inflation, Income, Inflation, ISCR, medium-term growth, price, private sector