Australia: Staff Report for the 2002 Article IV Consultation

International Monetary Fund

No 2002/201, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2002 Article IV Consultation highlights that despite the synchronized slowdown in the rest of the world in 2001, the Australian economy has continued to grow strongly. This performance reflected the absence of major imbalances in the economy, an aggressive easing of monetary policy, fiscal policy stimulus, and a competitive exchange rate. Real GDP has risen at an average annual rate of 3¾ percent since end-2000. With underlying inflation pressures muted and the uncertainty about the depth and duration of the global slowdown, monetary policy was highly supportive of growth.

Keywords: ISCR; CR; wage cost inflation; rate; income support; underlying inflation; monetary policy; staff appraisal; unemployment rate; fiscal policy stimulus; Income; Personal income; Employment; Fiscal stance; Global (search for similar items in EconPapers)
Pages: 46
Date: 2002-09-18
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