Economic Statistics and Policy Review (2015-2026)

Practice flashcards covering Australian economic growth, inflation, unemployment, and policy stances from pre-COVID levels through 2026 forecasts.

Pre-COVID Household Savings Ratio

The average ratio was approximately $4.9\%$, later reaching $3\text{--}3.5\%$ in $2019$.

Pre-COVID Cash Rate

The interest rate was approximately $0.75\%$ before being reduced to $0.25\%$ and eventually $0.1\%$.

$2020$ GDP Growth

Australia experienced a GDP growth of $-2.4\%$, which was more favorable than the OECD average of $-4.5\%$.

June Quarter $2020$ Household Savings Ratio

The ratio surged to $23.9\%$ during the initial COVID collapse.

May $2020$ Underemployment Rate

The rate was recorded at $19.68\%$.

JobSeeker

A fiscal policy measure providing payment of $\$560\text{--}1100$ per fortnight.

JobKeeper

A fiscal policy measure providing payment of $\$1500$ per fortnight per employee.

Term Funding Facility

A monetary policy measure totaling $\$188B$.

Net Foreign Liabilities

Totaled $\$831.4B$, representing approximately $35\% \text{ GDP}$.

$2022$ Inflation Peak

Inflation reached a peak of $7.8\%$ in $2022$.

July $2022$ Unemployment Rate

Reached $3.4\%$, the lowest rate recorded since $1974$.

$2023\text{--}2024$ Tightening Cycle Peak

The cash rate peaked at $4.35\%$ in November $2023$ following $13$ rate rises.

$2023$ Net Overseas Migration

The total migration figure reached $518,000$, with approximately $450,000$ forecast for $2024$.

Sept $2024$ Inflation

Recorded at $2.8\%$, bringing inflation back into the target band.

$2025/26$ Government Debt

Forecast to reach $\$620.3B$, which is equivalent to $21.5\% \text{ GDP}$.

Iran/Hormuz Oil Supply

The region accounts for $20\%$ of the global oil supply.