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 that the Australian economy has performed well relative to many other advanced economies since the global financial crisis. A transition phase has now been reached as the terms of trade-driven mining investment boom of the past decade has peaked, and the economy is moving to the production and export phase. Annual growth slowed to 2¼ percent in the third quarter of 2013, below the trend growth of about 3 percent. Inflation remains anchored in the Reserve Bank of Australia’s (RBA) target range.