Cover IMF Staff Country Reports
Australia: 2022 Article IV Consultation-Press Release; and Staff Report
Author:
International Monetary Fund. Asia and Pacific Dept
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2023: Issue 050
Language:
English
Publication Date:
01 Feb 2023
DOI:
https://doi.org/10.5089/9798400230127.002
ISBN:
9798400230127
ISSN:
1934-7685
Pages:
87
Keywords:
CPI expenditure weight; inflation expectation; CPI indicator; ABS implementation; liability positions vis-à-vis nonresident; volume terms; Inflation; Housing prices; Housing; Mortgages; Financial statements; Global; Asia and Pacific
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A strong post-pandemic recovery and favorable terms of trade have led Australia to a stronger cyclical position than most advanced economies. Tight labor markets reflect the strength of the recovery with labor and skills shortages, although wage growth has remained more subdued than in many other advanced economies. Inflation has risen to significantly above target, prompting decisive monetary policy tightening. Financial conditions have since tightened, and housing prices started declining from their peak.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2023: Issue 050