Statement on Monetary Policy – May 2011 List of tables
Chapters
- Table 1.1: Commodity Price Growth
- Table 2.1: Policy Rates
- Table 2.2: Changes in International Share Prices
- Table 2.3: Changes in the US Dollar against Selected Currencies
- Table 2.4: Foreign Exchange Reserves
- Table 2.5: Australian Dollar against Selected TWI Currencies
- Table 3.1: Demand and Output Growth
- Table 3.2: National Housing Price Growth
- Table 4.1: Intermediaries' Lending Rates
- Table 4.2: Financial Aggregates
- Table 5.1: Measures of Consumer Price Inflation
- Table 5.2: Median Inflation Expectations
- Table 6.1: Output Growth and Inflation Forecasts
Boxes
Change since previous Statement | Change over the past year | |
---|---|---|
Oil(a) | 19 | 30 |
– US$ terms | 22 | 39 |
Base metals | ||
– Aluminum | 8 | 22 |
– Copper | −9 | 24 |
– Lead | −7 | 16 |
– Nickel | −5 | 3 |
– Zinc | −12 | −2 |
Gold | 10 | 20 |
Rural | ||
– Beef | −6 | 10 |
– Cotton | −16 | 79 |
– Sugar | −34 | 31 |
– Wheat | −9 | 61 |
– Wool | 9 | 62 |
Bulk commodities(b) | ||
– Iron ore | 14 | 33 |
– Coking coal | 39 | 47 |
– Thermal coal | 14 | 26 |
(a) Average of WTI and Tapis crude oil prices Sources: Bloomberg; RBA |
Current level Per cent |
Most recent change |
Cumulative increase Basis points |
||
---|---|---|---|---|
Euro area | 1.25 | ↑ | Apr 11 | 25 |
Japan | 0.05 | ↓ | Oct 10 | – |
United States | 0.125 | ↓ | Dec 08 | – |
Brazil | 12.00 | ↑ | Apr 11 | 325 |
Canada | 1.00 | ↑ | Sep 10 | 75 |
China | 6.31 | ↑ | Apr 11 | 100 |
India | 7.25 | ↑ | May 11 | 250 |
Indonesia | 6.75 | ↑ | Feb 11 | 25 |
Israel | 3.00 | ↑ | Mar 11 | 250 |
Malaysia | 2.75 | ↑ | Jul 10 | 75 |
Mexico | 4.50 | ↓ | Jul 09 | – |
New Zealand | 2.50 | ↓ | Mar 11 | – |
Norway | 2.00 | ↑ | May 10 | 75 |
Russia | 8.25 | ↑ | Apr 11 | 50 |
South Africa | 5.50 | ↓ | Nov 10 | – |
South Korea | 3.00 | ↑ | Mar 11 | 100 |
Sweden | 1.75 | ↑ | Apr 11 | 150 |
Switzerland | 0.25 | ↓ | Mar 09 | – |
Taiwan | 1.75 | ↑ | Apr 11 | 50 |
Thailand | 2.75 | ↑ | Apr 11 | 150 |
United Kingdom | 0.50 | ↓ | Mar 09 | – |
Source: central banks |
Past year | Since previous Statement |
|
---|---|---|
United States | ||
– Dow Jones | 16 | 6 |
– S&P 500 | 15 | 3 |
– NASDAQ | 17 | 3 |
Euro area | ||
– STOXX | 11 | −1 |
United Kingdom | ||
– FTSE | 11 | 0 |
Japan | ||
– Nikkei | −10 | −4 |
Canada | ||
– TSE 300 | 13 | −1 |
Australia | ||
– ASX 200 | 0 | −1 |
China | ||
– China A | 1 | 2 |
MSCI Indices | ||
– Emerging Asia | 14 | 2 |
– Latin America | 3 | −5 |
– Emerging Europe | 19 | 1 |
– World | 9 | 0 |
Source: Bloomberg |
Past year | Since previous Statement |
|
---|---|---|
Japanese yen | −15 | −1 |
Chinese renminbi | −5 | −1 |
New Taiwan dollar | −9 | −2 |
UK pound sterling | −8 | −2 |
Malaysian ringgit | −7 | −2 |
New Zealand dollar | −9 | −2 |
South Korean won | −5 | −2 |
Indian rupee | 0 | −2 |
Thai baht | −7 | −3 |
Philippine peso | −5 | −3 |
Canadian dollar | −6 | −3 |
Brazilian real | −8 | −3 |
Mexican peso | −7 | −3 |
Singapore dollar | −11 | −3 |
Swedish krona | −18 | −5 |
Indonesian rupiah | −5 | −5 |
Australian dollar | −15 | −6 |
South African rand | −12 | −7 |
European euro | −12 | −7 |
Swiss franc | −22 | −8 |
Majors TWI | −11 | −5 |
Broad TWI | −8 | −3 |
Sources: Bloomberg; Board of Governors of the Federal Reserve System |
Three-month-ended change | Level | ||
---|---|---|---|
US$ billion | Per cent | US$ billion | |
China | 197 | 7 | 3,045 |
Japan | 6 | 1 | 1,041 |
Russia | 21 | 5 | 454 |
Taiwan | 11 | 3 | 393 |
Brazil(a) | 28 | 10 | 309 |
South Korea | 7 | 2 | 294 |
Thailand | 9 | 5 | 174 |
South Africa | 5 | 15 | 41 |
Chile(a) | 4 | 13 | 30 |
(a) RBA estimates of official reserve assets excluding gold Sources: Bloomberg; CEIC; RBA |
Change over past year |
Change since previous Statement | Deviation from post-float average | |
---|---|---|---|
US dollar | 19 | 6 | 47 |
Japanese yen | 2 | 5 | −8 |
Chinese renminbi | 13 | 5 | 48 |
UK pound sterling | 9 | 4 | 45 |
Malaysian ringgit | 9 | 4 | 42 |
New Zealand dollar | 8 | 4 | 10 |
South Korean won | 12 | 4 | 66 |
Indian rupee | 17 | 4 | 76 |
Thai baht | 10 | 4 | 36 |
Canadian dollar | 10 | 3 | 10 |
Singapore dollar | 5 | 3 | 6 |
Indonesian rupiah | 9 | 1 | 138 |
South African rand | 4 | −1 | 58 |
European euro | 3 | −1 | 9 |
Swiss franc | −9 | −3 | −13 |
TWI | 9 | 4 | 31 |
Sources: Bloomberg; Thomson Reuters; W/M Reuters |
December quarter 2010 |
Year to December quarter 2010 |
|
---|---|---|
Domestic final demand | 0.3 | 2.7 |
– Private demand | 0.2 | 1.6 |
– Public demand | 0.7 | 6.0 |
Change in inventories(a) | 0.8 | 0.4 |
GNE | 1.1 | 3.1 |
Net exports(a) | 0.0 | −0.7 |
GDP | 0.7 | 2.7 |
Nominal GDP | 1.2 | 8.8 |
(a) Contribution to GDP growth Source: ABS |
3 months to December 2010 |
3 months to March 2011 |
Year to March 2011 |
|
---|---|---|---|
Capital cities | |||
ABS(a)(b) | 0.8 | −1.7 | −0.2 |
APM | −0.8 | −0.2 | −0.6 |
RP Data-Rismark | 0.3 | −2.1 | −0.6 |
Regional areas | |||
APM(b) | −1.0 | −1.8 | −3.1 |
RP Data-Rismark(a) | 0.4 | −1.8 | −0.5 |
(a) Detached houses only Sources: ABS; APM; RBA; RP Data-Rismark |
Change Since: | |||
---|---|---|---|
Level at end April 2011 |
February Statement |
End April 2010 |
|
Cash rate | 4.75 | 0.00 | 0.50 |
Housing loans(b) | 7.09 | −0.06 | 0.59 |
Personal loans | 12.89 | −0.01 | 0.65 |
Small business | |||
Residentially secured | |||
– Term loans | 8.99 | 0.00 | 0.65 |
– Overdraft | 9.86 | 0.00 | 0.65 |
Average actual rate | 8.82 | 0.00 | 0.48 |
Large business | |||
Average actual rate (variable and bill funding) | 6.97 | −0.10 | 0.63 |
(a) Variable interest rates unless otherwise indicated Sources: ABS; APRA; Canstar Cannex; Perpetual; RBA |
Average monthly growth | Year to March 2011 |
||
---|---|---|---|
December quarter 2010 | March quarter 2010 | ||
Total credit | 0.2 | 0.5 | 3.6 |
– Owner-occupier housing | 0.6 | 0.5 | 6.5 |
– Investor housing | 0.5 | 0.4 | 6.7 |
– Personal | 0.0 | 0.3 | 1.0 |
– Business | −0.4 | 0.6 | −0.6 |
Broad money | 0.7 | 0.6 | 7.6 |
Source: RBA |
Quarterly | Year-ended | ||||
---|---|---|---|---|---|
December quarter 2010 |
March quarter 2011 |
December quarter 2010 |
March quarter 2011 |
||
CPI | 0.4 | 1.6 | 2.7 | 3.3 | |
– Tradables | 0.3 | 1.8 | 1.6 | 3.3 | |
– Tradables (excl food, fuel and tobacco) |
−1.2 | −0.6 | −2.0 | −1.6 | |
– Non-tradables (excl deposit & loan facilities) |
0.6 | 1.1 | 3.5 | 3.3 | |
Selected underlying measures | |||||
Trimmed mean | 0.3 | 0.9 | 2.2 | 2.3 | |
Weighted median | 0.5 | 0.8 | 2.2 | 2.2 | |
CPI excl volatile items(a) and deposit & loan facilities | 0.1 | 0.7 | 2.5 | 2.6 | |
(a) Volatile items are fruit, vegetables and automotive fuel Sources: ABS; RBA |
Year to December 2011 | Year to December 2012 | |||||
---|---|---|---|---|---|---|
November 2010 |
February 2011 |
May 2011 |
February 2011 |
May 2011 |
||
Market economists(a) | 3.2 | 3.3 | 3.3 | 3.1 | 3.1 | |
Union officials(b) | 3.0 | 3.2 | 3.3 | 3.2 | 3.1 | |
(a) RBA survey (b) Workplace Research Centre |
Year-ended | |||||||
---|---|---|---|---|---|---|---|
Dec 2010 |
June 2011 |
Dec 2011 |
June 2012 |
Dec 2012 |
June 2013 |
Dec 2013 |
|
GDP growth | 2.7 | 2½ | 4¼ | 4¼ | 3¾ | 3¾ | 3¾ |
Non-farm GDP growth | 2.1 | 2½ | 4½ | 4 | 3¾ | 3¾ | 3¾ |
CPI inflation | 2.7 | 3½ | 3¼ | 2½ | 3 | 3 | 3¼ |
Underlying inflation | 2¼ | 2½ | 3 | 3 | 3 | 3 | 3¼ |
Year-average | |||||||
2010 | 2010/11 | 2011 | 2011/12 | 2012 | 2012/13 | 2013 | |
GDP growth | 2.7 | 2½ | 3¼ | 4½ | 4¼ | 3¾ | 3¾ |
(a) Technical assumptions include A$ at US$1.07, TWI at 78 and Tapis crude oil price at US$126 per barrel Sources: ABS; RBA |
Food(b) | Household energy | Vehicle fuel | |
---|---|---|---|
Australia | 12 | 3 | 4 |
China(c) | 31 | 6½ | ½ |
India | 45 | 9½ | na |
Japan | 19½ | 5½ | 2½ |
East Asia (excl China and Japan)(c) | 19 | 4½ | 5½ |
Euro area | 15½ | 5½ | 4½ |
United Kingdom | 12 | 4½ | 4½ |
United States | 8 | 4 | 4½ |
(a) Effective weights for 2011 or nearest available year Sources: ABS; CEIC; Eurostat; Office for National Statistics; RBA; US Bureau of Labor Statistics |