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Australia : 2015 article IV consultation: press release: staff report: and statement by the Executive Director for Australia.

Author: International Monetary Fund.
Publisher: Washington, D.C. : International Monetary Fund, ©2015.
Series: IMF country report, no. 15/274.
Edition/Format:   eBook : Document : International government publication : English
Summary:
KEY ISSUES Context: Outperformance fading - Australia has enjoyed exceptionally strong income growth for the past two decades. But the waning resource investment boom and sharp fall in the terms of trade have brought this to a halt. A cyclical recovery is likely in the near term, but over the medium term, income growth is likely to slow to a rate in line with other advanced economies. Policy agenda: Re-energizing  Read more...
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Details

Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: International Monetary Fund.
OCLC Number: 923029199
Notes: "September 2015."
Description: 1 online resource (65 pages) : color illustrations, color map.
Series Title: IMF country report, no. 15/274.
Other Titles: Australia, 2015 article IV consultation

Abstract:

KEY ISSUES Context: Outperformance fading - Australia has enjoyed exceptionally strong income growth for the past two decades. But the waning resource investment boom and sharp fall in the terms of trade have brought this to a halt. A cyclical recovery is likely in the near term, but over the medium term, income growth is likely to slow to a rate in line with other advanced economies. Policy agenda: Re-energizing growth by sustaining demand through the resource boom transition - Monetary policy should remain accommodative given the sizeable output gap and subdued inflation, and stand ready to ease further should the recovery fall short of expectations and provided financial stability risks remain contained. A small surplus should remain a longer-term anchor of fiscal policy. But the planned consolidation is somewhat more frontloaded than desirable. Increasing public investment would support demand and insure against downside growth risks.

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