RBA cuts forecasts as inflation disappoints
The Reserve Bank of Australia expects to undershoot its inflation target for another year
The Reserve Bank of Australia has slashed its expectations for future price rises, saying that both inflation and wages are expected “to increase only gradually over time”.
In its quarterly statement on monetary policy released today (November 10), the RBA says it expects underlying inflation to rise to 2% only by the middle of 2019. In its forecast made three months ago, the RBA forecast inflation would hit 2% “over the second half of 2017”.
For 2017 and 2018, Australia’s central bank expects
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