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Financial instruments with returns that are indexed to inflation allow market participants to hedge against or take positions on future inflation. Inflation-linked bond and swap markets in Australia are small and not very liquid relative to some other advanced economies. Nevertheless, pricing in these markets can provide valuable information about…

Global private credit has grown rapidly over the past two decades, providing an alternative source of financing for businesses. This article introduces a new estimate of the size of private credit outstanding in Australia, based on data collected by the Australian Prudential Regulation Authority and London Stock Exchange Group. It…

Components for GDP on the expenditure side of the national accounts – expenditure on consumption, investment (including inventories) and exports less imports – can provide an important read on the composition of demand. For China, these components are available in contributions to year-ended GDP growth, which provides insight into trends…

China’s local government financing vehicles (LGFVs) are a key feature – and risk – of China’s infrastructure investment and financing environment. The scale of their debt has consequences for local governments’ fiscal sustainability and for capacity to continue financing infrastructure development. This article reviews progress and challenges in the transformation…