Statement on Monetary Policy: May 2023
Inflation has passed its peak in Australia but remains very high. Headline inflation declined to 7 per cent in year-ended terms in the March quarter; trimmed mean inflation was 6.6 per cent over the same period. The decline was driven by goods prices, consistent with, but a little later than, the pattern in other economies. Somewhat offsetting this, cost pressures (both labour and non-labour) and strong demand continued to contribute to strong price increases for many services. CPI rent inflation has been picking up, consistent with tight rental markets. Inflation is expected to return to the 2–3 per cent target ... (full story)
RBA: Some Further Tightening May Be Required to Reach Target in a Reasonable Timeframe— *seven (@sevenloI) May 5, 2023
RBA: Longer Inflation Remains Above Target, Greater the Risk of Price-Wage Spiral
RBA: Board Wants to Preserve as Much of Employment Gains as Possible
*RBA: Forecasts Based on 3.75% Rate Peak, Easing to 3% Mid-25— *seven (@sevenloI) May 5, 2023
*RBA: Rent Rises Expected to ‘Materially’ Add to Inflation
*RBA: High Uncertainty Over Speed, Extent of Disinflation
*RBA: Lower Goods Prices See Limited Pass Through to Australia
RBA: Forecast Trimmed Mean Inflation 4.0% End 2023, 3.1% End 2024, 2.9% Mid-2025— *seven (@sevenloI) May 5, 2023
RBA: Forecast CPI Inflation 4.5% End 2023, 3.2% End 2024, 3.0% Mid-2025
RBA: Forecast GDP Growth 1.2% End 2023, 1.7% End 2024, 2.1% Mid-2025
RBA: CHINA EXPECTED TO COMFORTABLY ACHIEVE ITS 5% GROWTH TARGET THIS YEAR— First Squawk (@FirstSquawk) May 5, 2023
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