Australia: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Australia

Australia: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Australia
ISBN-10
1513536087
ISBN-13
9781513536088
Series
Australia
Category
Business & Economics
Pages
79
Language
English
Published
2020-03-05
Publisher
International Monetary Fund
Author
International Monetary Fund. Asia and Pacific Dept

Description

This 2019 Article IV Consultation with Australia discusses that a continued gradual economic recovery is expected, subject to downside risks. Growth should continue to recover in 2020, but it will take time for the economy to return to potential and restore inflation to within the target range. Despite sound macroeconomic fundamentals and policy management, growth remains below potential and inflation is slightly below its target range. Growth is projected to recover gradually in the near term, supported by monetary policy easing, tax cuts, and the recovery of housing markets. Nonetheless, inflation is forecast to remain slightly below the target range until 2021 due to persistent economic slack. Downside risks, including a renewed escalation of the China–US tensions and weaker private consumption, remain elevated and have increased recently due to the widespread bushfires and the coronavirus outbreak. On the upside, looser financial conditions could re-accelerate asset-price inflation, boosting private consumption but also adding to medium-term vulnerabilities.

Get the book

Amazon.com
Amazon.com
Search the book
eBay.com
eBay.com
Search the book

Other editions

Similar books