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RBA’s Inflation Target Set to Surface as Disasters Fuel Prices
Philip Lowe is on track to reach a milestone that has eluded him since taking the helm of Australia’s central bank 40 months ago: his inflation target. But given the circumstances, he’d no doubt prefer not to. The combination of drought and wildfires that first parched and then scorched Australia’s east coast has left not only communities devastated, but crops incinerated and distribution networks in disarray. That’s set the scene for a spike in fruit and vegetables. Some of it will come through in the final quarter of 2019 -- with data due out Wednesday -- and the rest in the first quarter. “Apples will ... (full story)