RBA Sees Weaker Currency Fueling GDP Growth, Inflation: Economy

The Reserve Bank of Australia raised its economic growth and inflation forecasts, reflecting a weaker currency, and reiterated its shift to a neutral policy stance.

“Over the past few months, there have been further signs that very stimulatory monetary policy is working to support economic activity,” the RBA said in its quarterly monetary policy statement in Sydney today. “The board’s view is that a period of stability in the policy rate is likely.”