Australia Credit-to-GDP Gap in 2015
Australia Credit-to-GDP Gap opened 2015 at -1.7 and closed at 1.8, a +205.88% move for the year. The high of 1.8 was reached on December 31, and the low of -1.7 on March 31.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Mar | -1.7 | -1.7 | -1.7 | -1.7 | +0.00% |
| Jun | 0.1 | 0.1 | 0.1 | 0.1 | +0.00% |
| Sep | 1.6 | 1.6 | 1.6 | 1.6 | +0.00% |
| Dec | 1.8 | 1.8 | 1.8 | 1.8 | +0.00% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
Related Metrics
Get historical context as markets unfold, regime classification, scenario triggers, and analysis in your inbox.