Economics
RBA Plots Steady Course as Inflation, Economic Growth on Track
- Recent data increased central bank’s confidence in forecasts
- RBA reiterates that jobs, housing need ‘careful monitoring’
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Australia’s central bank said moderate economic growth alongside a gradual pickup in inflation continued to support its monetary policy settings, while jobs and housing remained key concerns.
The Reserve Bank of Australia said March consumer price data had “generally increased confidence” in its forecast that core inflation would pick up to around 2 percent by 2018, in minutes of this month’s policy meeting released Tuesday in Sydney. Data in April suggested that the economy had expanded at a moderate pace in the first quarter, it said.