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PPI Inflation Expected To Accelerate To 9.3%


New session low for Stoxx600


"The Board will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range. For this to occur, wages growth will have to be materially higher than it is currently. This will require significant gains in employment and a return to a tight labour market. The Board does not expect these conditions to be met until 2024 at the earliest."

  • The inclusion of 2024 was new for this statement, and will likely act as a bit of a staging post for shaping future policy expectations.
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