Annual Macroeconomic Snapshot • 1990s • Monetary tightening peak (17.5% Cash Rate)
The Australian Economy in 1990
In 1990, Australia’s Estimated Resident Population stood at 17,169,768, real GDP growth averaged 1.5%, annual CPI inflation averaged 7.3% and the unemployment rate averaged 6.9%.
- • The RBA overnight/target cash rate ended 1990 at 12.58%, while 10-year Australian Government bond yields averaged 13.18%.
- • The Australian Dollar averaged US$0.7806 against the US Dollar during 1990.
- • Key macroeconomic milestone: Monetary tightening peak (17.5% Cash Rate).
1990 Economic Indicators at a Glance
% p.a.
Rank #21 of 104 yrs
Inflation (CPI) in 1990
7.3% Long-run avg: 4.0%
-0.2 pp %
Rank #16 of 77 yrs
Unemployment Rate in 1990
6.9% Long-run avg: 4.8%
+0.8 pp % p.a.
Rank #69 of 77 yrs
Real GDP Growth in 1990
1.5% Long-run avg: 3.4%
-3.1 pp Persons
Rank #37 of 126 yrs
Population in 1990
17.17M Long-run avg: 12,689,752
+233,045 % p.a.
Rank #78 of 125 yrs
Population Growth in 1990
1.38% Long-run avg: 1.61%
-0.12 pp % p.a.
Rank #9 of 78 yrs
10-Year Bond Yield in 1990
13.18% Long-run avg: 6.63%
-0.23 pp % p.a.
Rank #6 of 51 yrs
RBA Cash Rate in 1990
12.58% Long-run avg: 6.48%
-5.58 pp US$ per A$1
Rank #37 of 67 yrs
AUD/USD Exchange Rate in 1990
US$0.7806 Long-run avg: US$0.8921
-0.0102 % of disposable income
Rank #32 of 68 yrs
Household Saving Ratio in 1990
8.5% Long-run avg: 9.0%
-0.1 pp % of GDP
Rank #37 of 68 yrs
Trade Balance (% GDP) in 1990
-1.0% Long-run avg: -0.5%
+1.4 pp '000 dwellings / month
Rank #50 of 62 yrs
Dwelling Approvals in 1990
122.5k Long-run avg: 152.7
-32.3 % p.a.
Wage Growth (WPI) in 1990
N/A Series commenced later
1990 in Context: Preceding & Following Years (1985–1995)
10-year window around 1990 showing how key indicators evolved before and after