Australia: 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Australia

September 23, 2008

Preview Citation

Format: Chicago

Australia: 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Australia, (USA: International Monetary Fund, 2008) accessed November 22, 2024

Summary

The Article IV Consultation discusses that recently a commodity price boom, driven by robust global demand, has pushed the Australian economy up against capacity constraints. Banks are adjusting the structure of their funding in response to the turmoil, increasing liquidity, and lengthening the maturity of their funding. Executive Directors considered that the sound macroeconomic framework should permit Australia to weather the global downturn and contain inflationary pressures. They encouraged the authorities to take advantage of the positive macroeconomic performance to advance structural reforms.

Subject: Banking, Commodity prices, Currencies, External debt, Inflation, International trade, Money, Prices, Terms of trade

Keywords: Commodity price boom, Commodity prices, CR, Currencies, Deficit, Equilibrium level, Global, Inflation, Inflation pressure, ISCR, Rate, RBA move, Reserve bank of Australia, Terms of trade, Vis nonresident

Publication Details

Pages:

49
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2008/312
Stock No:

1AUSEA2008002
ISBN:

9781451802191
ISSN:

1934-7685

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