The Reserve Bank of Australia (RBA) has just released updated forecasts for Australian economic growth and inflation as part of its quarterly statement on monetary policy (SoMP).
Here they are:
And here are its previous forecasts offered three months ago:
The central bank forecasts gross domestic product to rise between 2.75% to 3.75% in 2018, up from 2.5% to 3.5% previously.
Headline inflation returned to the RBA’s 2% to 3% target band in the year to the March quarter, and the central bank sees underlying inflation to be around 2% in early 2018.