RBA quarterly statement trims near-term unemployment forecast, others largely unchanged

Market news

9 February 2018

RBA quarterly statement trims near-term unemployment forecast, others largely unchanged

Says underlying inflation to reach 2.25 pct by mid-2020
Unemployment forecasts cut 0.25 point to 5.25 pct out to mid-2019, stays at 5.25 pct to mid-2020
Gdp growth seen at 3.25 pct end 2018, 3.25 pct end 2019, 3 pct mid-2020
Underlying inflation seen at 1.75 pct end 2018, 2 pct end 2019, 2.25 pct june 2020
Household income growth slow, if that persists it would constrain consumption
Recent new enterprise agreements to put downward pressure on wage growth for couple of years
Appreciating AUD would dampen domestic growth and inflation
Outlook for global growth positive despite volatility in equity markets

Fed's George says three hikes this year and next would be reasonable unless economic outlook changes

Swiss unemployment rate stable at 3.0% in January

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