Australia: 2007 Article IV Consultation-Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

September 12, 2007

Preview Citation

Format: Chicago

Australia: 2007 Article IV Consultation-Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion, (USA: International Monetary Fund, 2007) accessed November 26, 2024

Summary

This 2007 Article IV Consultation highlights that the lengthy expansion brought the Australian economy to a position of near full employment. Inflation had eased in late 2006 and early 2007, but accelerated in the second quarter. The current account deficit was 5½ percent of GDP in 2006. The trade deficit narrowed, while the investment income balance continued to deteriorate, reflecting large net dividend payments. The Australian dollar has appreciated substantially over the past few years, but does not appear misaligned once the recent terms of trade gains are taken into account.

Subject: External debt, Fiscal policy, Fiscal stance, Income, Inflation, National accounts, Prices, Public debt

Keywords: Bank bill swap rate, Commercial paper, CR, Fiscal stance, Global, Headline CPI inflation, Income, Inflation, Inflation pressure, ISCR, Rate, Rate decision, Staff project GDP growth, Swap rate

Publication Details

Pages:

39
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2007/314
Stock No:

1AUSEA2007001
ISBN:

9781451802177
ISSN:

1934-7685

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