19.3 C
New York
Sunday, September 19, 2021
spot_img

RBA: Australia Inflation Unlikely Until 2024

#Australia #inflation #RBA

Australia’s central bank (RBA) sees good prospects for growth and an eventual increase in wages and prices, though inflation is unlikely to be sustainably within its target range until Y 2024 at the earliest, a senior official said Wednesday.

Australia’s economy has witnessed a sharp rebound after last yr sliding into its 1st recession in nearly 30 yrs, though price pressures remain subdued, a Key reason why policy will remain stimulatory for a long time to come.

The Reserve Bank of Australia’s forecasts show inflation below the mid-point of its 2-3% target through mid-2023, despite interest rates at a record low 0.1%, a massive government bond buying program and solid fiscal stimulus.

In a speech in Sydney, Assistant RBA Governor Chris Kent said the central bank’s policy measures will continue to deliver “very stimulatory monetary conditions” until the economy returns to full employment and inflation is consistent with the target.

Have a healthy day, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

Related Articles

Stay Connected

15,334FansLike
43,300FollowersFollow
2,855SubscribersSubscribe
- Advertisement -spot_img

Latest Articles