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Statement on Monetary Policy – February 2022
The Australian economy has bounced back strongly from the lockdowns associated with the outbreak of the Delta variant of COVID-19 in the second half of 2021. GDP is expected to have grown by 5 per cent over the year despite these lockdowns. In light of this strong recovery and signs that the effect of the Omicron outbreak on spending has been relatively small, the outlook for the Australian economy has been upgraded relative to the forecasts presented in the November Statement on Monetary Policy. GDP is expected to grow by around 4¼ per cent over 2022 and 2 per cent over 2023. The labour market has likewise ... (full story)
Added at 7:35pm
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RBA: WE ARE PREPARED TO BE PATIENT AS IT WATCHES HOW VARIOUS FACTORS DRIVING INFLATION IN AUSTRALIA CHANGE.
— Breaking Market News (@financialjuice) February 4, 2022