Australia Staff Report for 2013 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Australia

This 2013 Article IV consultation highlights Australia’s below-trend GDP growth and the beginning of the decline of the investment phase of the mining boom, which has passed its peak. A key issue now is how Australia can manage the mining-production/export phase and encourage broader-based growth. T...

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Bibliographic Details
Corporate Author: International Monetary Fund Asia and Pacific Dept
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2014
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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651 4 |a Australia 
653 |a Natural Resource Extraction 
653 |a Inflation 
653 |a Real Estate 
653 |a Terms of trade 
653 |a Mineral industries 
653 |a Economic policy; nternational cooperation 
653 |a Housing Supply and Markets 
653 |a Mining sector 
653 |a Trade: General 
653 |a Exports and Imports 
653 |a Housing; Prices 
653 |a Economic sectors 
653 |a International economics 
653 |a International Lending and Debt Problems 
653 |a Debts, External 
653 |a External debt 
653 |a Property & real estate 
653 |a International trade 
653 |a Exports 
653 |a Banks and Banking 
653 |a Prices 
653 |a Macroeconomics 
653 |a Banking 
653 |a Industry Studies: Primary Products and Construction: General 
653 |a Empirical Studies of Trade 
653 |a Housing prices 
653 |a Extractive industries 
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520 |a This 2013 Article IV consultation highlights Australia’s below-trend GDP growth and the beginning of the decline of the investment phase of the mining boom, which has passed its peak. A key issue now is how Australia can manage the mining-production/export phase and encourage broader-based growth. The main external risks include a slowdown in China over the medium term and surges in global financial market volatility. The pickup in housing market activity, though welcome to date, could pose a future risk if prices accelerate and lead to overshooting. The financial sector is resilient and has strengthened in recent years, although banks’ reliance on offshore funding will continue. The emphasis on tight lending standards and intensive supervision should help limit financial sector risks