There’s been little impact on the AUD so far, its up a fraction.
The Statement is released 4 times a year and contains economic outlooks
and forecasts from the central bank
- Forecasts Dec. ’13 GDP growth to 2.5%, and sees 2%-3% in June ’14
- Cuts 2013 CPI forecast to 2% from 2%-3% seen in February
- Subdued growth outlook reflects high $A
- While mining investment is to remain elevated, it is set to peak
- Low level of interest rates is helping support demand
- Sees moderate employment growth
- Domestically generated inflation to remain contained
- GDP growth little below trend in 2013 but pick up in 2014
- Cites fiscal ‘consolidation’
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