The Reserve Bank of Australia lowered its forecast for on-year GDP growth by the end of 2017 to 2-3%. And although the regulator still expects the growth of 2.75-2.75% in 2018, today’s report shows how concerned it is with the dynamics of the exchange rate.
Inflation forecast remained the same for the current year: 1.5-2.5% with the possibility of growth to 3% by June 2019. The Australian dollar fell immediately after the report was published, but quickly recovered and returned to the middle of the range 0.80-0.79.
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