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Australia's strong economic growth is expected to continue in the near term, according to the International Monetary Fund.
However, according to the authority, such growth is facing global risks, including weaker than expected results in China due to its trade tensions with the United States.
In a statement following an official visit by IMF staff to Australia, the fund said the current strong growth would continue as the economy nears the end of its rebalancing following the mining boom.
A rebound in private business investment unrelated to mining and new growth in public investment should help things.
The bank wrote that this would further reduce the economic slump, which means more unused resources, paving the way for higher wages and prices.
This may sound positive, but it is too early for Australia to raise its official policy rate by a record 1.5%, the IMF said.
"This is not yet the time to withdraw support for macroeconomic policy, given the looseness," said the authority.
The risks to the country's growth include a less favorable overall picture, as international protectionism and trade tensions continue.
The slowdown in the local real estate market is also a risk for growth, but the IMF has welcomed the slowdown in the market and its contribution to the affordability of housing.
Despite this, the authority would like more reforms to improve housing supply as soon as possible.
"Planning, zoning and other reforms affect supply and prices only with significant delays, and the underlying demand for housing should remain robust," the bank said.
"Reforms in housing supply should therefore not be delayed due to the correction of the housing market".
Australia applies strict regulation to its banks, but it could benefit from increased financial sector risk monitoring, according to the IMF.
He suggested greater transparency in the work of the Board of Financial Regulators to identify systemic risks in the system and try to mitigate them.
Financial sector supervision and crisis management could also be improved, the bank said.
