RBA Warns Inflation More Persistent Than Expected
null By James GlynnNov. 9, 2023 7:45 pm ETSignage at the Reserve Bank of Australia building in Sydney. Photo: Brent Lewin/Bloomberg NewsSYDNEY—The Reserve Bank of Australia sharply revised up its forecasts for core inflation in the near term and warned that inflation pressures are cooling at a slower pace than anticipated against the backdrop of an economy that is proving more resilient than expected.Trimmed mean inflation, which is central to policy decisions at the RBA, is now expected to be running at 4.0% on-year by mid-2024, up from a forecast of 3.25% on-year in August.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8Continue reading your article witha WSJ subscriptionSubscribe NowAlready a subscriber? Sign InSponsored OffersTurboTax: Save up to $15 with TurboTax coupon 2023The Motley Fool: Epic Bundle - 3x Expert Stock RecommendationsH&R Block Tax: Get 20% off H&R Block tax software productsTop Resume: Top Resume Coupon: 10% off p
Nov. 9, 2023 7:45 pm ET
SYDNEY—The Reserve Bank of Australia sharply revised up its forecasts for core inflation in the near term and warned that inflation pressures are cooling at a slower pace than anticipated against the backdrop of an economy that is proving more resilient than expected.
Trimmed mean inflation, which is central to policy decisions at the RBA, is now expected to be running at 4.0% on-year by mid-2024, up from a forecast of 3.25% on-year in August.
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