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The economy is set for a period of below-trend growth as well as an easing in inflationary pressures, the RBA said on Friday in its quarterly Statement on Monetary Policy.
document.addEventListener('DOMContentLoaded', (event) => { window.dataLayer = window.dataLayer || []; dataLayer.push({ 'event': 'articleTags', 'article_tags': ['Breaking News'] }); });According to the RBA, available economic data for 2008 suggested that a significant moderation in domestic demand is now occurring. Prospects for growth and inflation was reliant on global economic forces, global and domestic financial market conditions and Australia’s rising terms of trade.
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Given the opposing forces at work, the RBA said the overall outlook for inflation still remains somewhat uncertain. However its current assessment was that capacity pressures in the economy should ease and inflation should start to decline towards the end of 2008.
Published: 12-05-08
