australias central bank cuts inflation gdp forecasts
Last Updated : GMT 03:09:26
Arab Today, arab today
Arab Today, arab today

Australia's central bank cuts inflation, GDP forecasts

Arab Today, arab today

Arab Today, arab today Australia's central bank cuts inflation, GDP forecasts

The Reserve Bank of Australia (RBA)
Sydney - XINHUA

The Reserve Bank of Australia (RBA) on Friday cut its inflation and GDP growth forecasts while saying it sees no change to the record low cash rate of 2.5 percent.
In its latest quarterly Monetary Policy statement, the RBA said it expects a GDP growth of 2.5 percent for this calendar year, and this is expected to rise towards 3 percent for the financial year to June 2015.
The central bank expected the unemployment rate to remain elevated before it gradually declines in 2016. The unemployment rate rose sharply in July to a 12-year high of 6.4 percent.
The Consumer Price Index (CPI) was forecast to rise 2 percent in the year to December 31, and between 1.75 percent to 2.75 percent for the next financial year to June 2015.
"The key uncertainties for the domestic economy continue to be centered on the timing and extent of the expected decline in mining investment, the associated rise in resource exports and the further strengthening in non-mining activity," the RBA said.
"While this 'transition' has been unfolding for some time, helped in part by the very low level of interest rates, there is no guarantee that the rebalancing of spending will be a smooth process."
The RBA said resource exports will continue to provide "an above-average contribution to annual GDP growth," estimating the level at 1 percentage point over 2015 and 2016.
Growth in China, Australia's biggest trading partner, has picked up, driven in part by "modest stimulus" implemented by the authorities who are likely to come close to their 7.5 percent target this year, the RBA noted.
"A key uncertainty relates to the possibility that continued weakness in the property market will weigh on growth and may adversely affect financial stability" in China, it said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

australias central bank cuts inflation gdp forecasts australias central bank cuts inflation gdp forecasts

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

australias central bank cuts inflation gdp forecasts australias central bank cuts inflation gdp forecasts

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday