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MNI INTERVIEW: No 'Spiralling' Inflation-RBA's Harper

SYDNEY (MNI)

Price expectations remain in tune with the RBA's 2% to 3% inflation target.

Both surveys of consumers and financial market pricing indicate that inflation expectations remain within the Reserve Bank of Australia’s 2%-3% target range while a weakening housing market should dampen future price increases, RBA board member Ian Harper told MNI.

“At this point, neither measure indicates that inflation expectations have broken free of their longer-term anchor inside the RBA’s target range. This also explains why the inflation forecasts do not show inflation spiralling upwards,” Harper said in an interview on Thursday, speaking in a private capacity.

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Both surveys of consumers and financial market pricing indicate that inflation expectations remain within the Reserve Bank of Australia’s 2%-3% target range while a weakening housing market should dampen future price increases, RBA board member Ian Harper told MNI.

“At this point, neither measure indicates that inflation expectations have broken free of their longer-term anchor inside the RBA’s target range. This also explains why the inflation forecasts do not show inflation spiralling upwards,” Harper said in an interview on Thursday, speaking in a private capacity.

Keep reading...Show less