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MNI BRIEF: RBA Sees Inflation Back To Target By End 2024

MNI (Sydney)
SYDNEY (MNI)

The Statement of Monetary Policy has updated forecasts.

The Reserve Bank of Australia is forecasting that CPI inflation will peak at 7.8% in December before falling gradually back into the 2% to 3% target range by the end of 2024.

The updated forecasts are included in the Statement on Monetary Policy released on Friday, which also forecast that trimmed mean inflation – the bank’s preferred measure – will peak at 6.0% in December and fall to 3.0% by December 2024, (See: MNI STATE OF PLAY: Rate Rises Not "Pre-Set" As RBA Hikes 50bps).

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The Reserve Bank of Australia is forecasting that CPI inflation will peak at 7.8% in December before falling gradually back into the 2% to 3% target range by the end of 2024.

The updated forecasts are included in the Statement on Monetary Policy released on Friday, which also forecast that trimmed mean inflation – the bank’s preferred measure – will peak at 6.0% in December and fall to 3.0% by December 2024, (See: MNI STATE OF PLAY: Rate Rises Not "Pre-Set" As RBA Hikes 50bps).

Keep reading...Show less