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The RBA has downgraded its inflation forecast for this year
The RBA has just released it’s quarterly Statement on Monetary Policy (SoMP), with updated forecasts for inflation, unemployment and economic growth. As RBA Governor Philip Lowe flagged in Tuesday’s monetary policy meeting, the central bank has downgraded its inflation forecast for 2018. The Australian dollar was little-changed immediately following the release. The RBA now expects both core and underlying inflation to rise by 1.75% to December 2018, down from the May forecasts of 2.25% and 2% respectively. Beyond that time frame, the central bank kept its inflation forecasts relatively unchanged. Previously, it ... (full story)