I'm amazed to see the organization that invented wifi is still pushing the envelope after suffering so many budget cuts at the hands of the "Liberal" (conservative) government.
In most countries, liberals are considered at least center, if not rightwing and conservative. I don't know about australian politics but it seems like its the same there. By Liberal they mean liberal economically (small government, no regulations) and conservative socially.
As someone coming from a political environment that doesn't use the term, I seem to periodically forget what is meant by liberal. Your concise definition is very useful.
In this case it's literally the name of the party (Liberals and Labor are the two major parties). You're correct on the economic and social axes, but that's become less distinct over the last decade.
In North America, liberal generally means left of centre and conservative means right of centre. Of course, I've never liked the one dimensional left/right political spectrum.