Media releases

2008

IMF November 2008 World Economic Outlook Update

The International Monetary Fund (IMF) today released an update of the World Economic Outlook, which reveals further deterioration in the global economic outlook since October.

Treasurer to Attend G-20 Finance Ministers' Meeting

Today I am travelling to Sao Paulo, Brazil to attend a meeting of G-20 Finance Ministers and Central Bank Governors.

Mid-Year Economic and Fiscal Outlook 2008-09

The Mid-Year Economic and Fiscal Outlook 2008-09 (MYEFO) released today shows that the Budget has felt the full force of the global financial crisis.

Bank Switching Measures Fully Operational

The Rudd Government's new measures to make it simpler for bank customers to switch their accounts to another provider become fully operational tomorrow (Saturday).

Government launches Australia's Low Pollution Future Report

Today the Rudd Government is proud to launch Australia's Low Pollution Future: The Economics of Climate Change Mitigation.

Decisions on Applications by the Pilbara Infrastructure Pty Ltd for Declaration of Certain Pilbara Railways

I have today decided to declare the Hamersley, Goldsworthy and Robe railway lines in the Pilbara region of Western Australia under the National Access Regime in Part IIIA of the Trade Practi

Government Announces Details of Deposit and Wholesale Funding Guarantees

On 12 October 2008, the Rudd Government announced it will guarantee deposits in Australian owned banks, locally incorporated subsidiaries of foreign banks, credit unions and building societies fo

Proposed Acquisition of St George Bank Limited by Westpac Banking Corporation

After careful consideration, today I am announcing approval, with conditions, of the proposed acquisition of St George Bank Limited by the Westpac Banking Corporation under the Financial Sec

September 2008 Consumer Price Index

Today's inflation figures show that Australians are continuing to face higher prices at the same time as they feel the impacts of the global financial crisis.

Treasurer Signs Memorandum of Understanding with China's National Development and Reform Commission

Today it was my pleasure to meet with the Chairman of China's National Development and Reform Commission (NDRC), His Excellency, Mr Zhang Ping.

Treasurer to Meet Federal Reserve Chairman Bernanke

Today I will be meeting the Chairman of the US Federal Reserve Board, Ben Bernanke to discuss how the global financial crisis is unfolding and its impacts on the US and other economies.

OECD Highlights Strength of the Australian Economy

I welcome today’s release of the 2008 OECD Economic Survey of Australia, which highlights the strength of the Australian economy and strongly endorses the Government’s economic reform agenda.

Treasurer Discusses Financial Market Turmoil with Wall Street Principals

Today I have met with senior financial market participants from major Wall Street institutions, including Morgan Stanley, Bank of America, the New York Stock Exchange, Standard and Poor’s and Moo

IMF October 2008 World Economic Outlook

The world economy is facing one of the most significant upheavals in financial markets in recent history and is causing a significant slowdown in global growth.

Treasurer to Attend IMF and World Bank Annual Meetings

Today I am travelling to the Annual Meetings of the International Monetary Fund (IMF) and World Bank held in Washington DC to continue the Government's strong advocacy for effective international

IMF October 2008 Global Financial Stability Report

The release overnight of the International Monetary Fund's (IMF's) Global Financial Stability Report (GFSR) highlights the extremely difficult situation financial markets are currently ex

Release of Treasury's Climate Change Mitigation Policy Modelling Assumptions Book

Today we are pleased to release the Treasury's climate change mitigation policy modelling assumptions book as part of our commitment to developing an economically responsible Carbon Pollution Reduc

Treasurer Directs the AOFM to Invest in RMBS

Today I am giving a Direction to the Australian Office of Financial Management (AOFM) to invest in Australian residential mortgage-backed securities (RMBS) as part of the Government's commitment

Nomination of Australian Alternate Director to the IMF

The Australian Government will nominate Mr Chris Legg, a senior official with the Australian Treasury, for appointment as an Alternate Executive Director at the International Monetary Fund for a tw

Government Initiative to Support Competition in Mortgage Market

Today I announce that the Australian Office of Financial Management (AOFM) will purchase Australian residential mortgage­backed securities (RMBS) as part of the Government's commitment to strong an