Australia: Staff Report for the 2006 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 374

Publication date: October 2006

ISBN: 9781451802115

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Inflation , Economics- Macroeconomics , ISCR , CR , core CPI , core CPI inflation , export commodity price , Australia , debt , price , headline CPI inflation , commodity price , private sector , medium-term growth , Commodity prices , Inflation , Budget planning and preparation , Income , Global

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Summary

Economic growth is strengthening, stimulated by the high terms of trade. Monetary policy has been tightened appropriately. A flexible monetary policy response to potential external shocks, including commodity price swings, will help to cushion growth while preserving low inflation. To promote robust risk management practices by financial institutions, the government intends to conduct further stress tests and review the regulation of banks’ liquidity. The recent surge in revenues provides resources that should be used for the implementation of reforms in sustaining strong economic growth.