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Statement on Monetary Policy – February 2024
Inflation continues to moderate and is expected to return to the target range of 2–3 per cent in 2025 and to reach the midpoint in 2026. Goods price inflation has declined but services price inflation remains high, supported by continued excess demand in the economy and strong domestic cost pressures, both for labour and non-labour inputs. Higher interest rates are working to establish a more sustainable balance between demand in the economy and its overall capacity to supply goods and services. The staff’s assessment is that the stance of monetary policy in Australia is currently restrictive, based on financial ... (full story)
Added at 10:42pm
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New economic forecasts from the RBA