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

MNI (Sydney)
SYDNEY (MNI)

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).

CPI inflation for the second quarter of 2022 printed at 6.1% with trimmed mean inflation at 4.9%.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

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