Aussie dollar drops as RBA cuts inflation outlook
RBA lowered its key rate by 25bp to 1.75% earlier this week
The Reserve Bank of Australia (RBA) has cut its forecasts for inflation through to the middle of 2018, noting domestic cost pressures were a "key source of uncertainty" over the period.
Earlier this week the RBA lowered its policy rate by 25bp to 1.75%, after first-quarter inflation figures disappointed. Annual CPI inflation dropped to 1.3% in March.
The RBA now expects inflation between 1% and 2% at the end of 2015, a full percentage point lower than its earlier forecasts, in February. It
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