We now know that the central bank doesn’t think inflation will be back in its 2 to 3% target range until 2027
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Higher inflation for longer is likely to rule out any further rate cuts, with the Reserve Bank’s latest set of economic forecasts pointing to a pretty dour 18 months ahead.
The RBA monetary policy board surprised nobody on Melbourne Cup day when it held its cash rate target at 3.6%.
Continue reading...Source: Guardian - World News