The Reserve Bank of Australia sounded an optimistic note on the economy, while maintaining that faster wages growth and inflation will take some time and the first interest-rate increase is unlikely before 2024. “A rapid trajectory of recovery from the recent setback seems increasingly likely,” the central bank said Friday in its quarterly update of economic forecasts, predicting wage growth will accelerate to 3% and inflation hit the 2.5% midpoint of the RBA’s target by end-2023. “Depending on the trajectory of the economy at that time, the board judges that this outcome could be consistent with the first increase ... (full story)