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RBA expects rise in inflation to be more gradual

Tuesday, Apr 18 2017
RBA expects rise in inflation to be more gradual

In it latest Meeting Minutes RBA noted that headline inflation was expected to pick up over 2017 to be above 2 per cent. However, the rise in underlying inflation was expected to be more gradual; wage growth and broader measures of labour cost pressures remained subdued and competition in the retail sector continued to be strong.

Taking into account the available information, the Board judged that holding the stance of monetary policy unchanged would be consistent with sustainable growth in the economy and achieving the inflation target over time. The Board judged that developments in the labour and housing markets warranted careful monitoring over coming months.

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