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Reserve Bank lowers outlook for Australian economy
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Reserve Bank lowers outlook for Australian economy

Feb 8 2013, 2:11am CST | by

Sydney, Feb 8 (IANS) The Reserve Bank of Australia (RBA) has lowered its gross domestic product (GDP) forecast for 2013 in its quarterly Statement on Monetary Policy released Friday.

Sydney, Feb 8 — The Reserve Bank of Australia (RBA) has lowered its gross domestic product (GDP) forecast for 2013 in its quarterly Statement on Monetary Policy released Friday. The RBA said that the...

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1 year ago

Reserve Bank lowers outlook for Australian economy

Feb 8 2013, 2:11am CST | by

Sydney, Feb 8 (IANS) The Reserve Bank of Australia (RBA) has lowered its gross domestic product (GDP) forecast for 2013 in its quarterly Statement on Monetary Policy released Friday.

Sydney, Feb 8 — The Reserve Bank of Australia (RBA) has lowered its gross domestic product (GDP) forecast for 2013 in its quarterly Statement on Monetary Policy released Friday.

The RBA said that the Australian GDP growth is now expected to be a little below trend over 2013, at round 2.5 percent, before picking up a little in 2014, reported Xinhua.

"The outlook for the Australian economy is slightly weaker than it appeared at the time of the November Statement," the RBA said in the statement.

"These forecasts have been revised down since the November statement, largely reflecting the slightly weaker outlook for mining and non-mining investment."

The RBA mentions several reasons for lowering the outlook for the Australian economy, including the expectation that the mining investment boom will peak in 2013, the effect of the persistently high level of the Australian dollar and little sign of a near-term pick-up in non-mining investment.

The central bank expects inflation to remain in its target range of two to three percent in 2013.

"Over the next few quarters, the pace of underlying inflation is expected to remain at an annual rate of around 2.5 percent and continue to be consistent with the inflation target for the rest of the forecast period," the RBA said.

IANS

Source: IANS

 
Update
10

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Source: NEWS.com.au   Full article at: NEWS.com.au
 

 
Update
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$A rises after rates left unchanged

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THE Australian dollar rose after the RBA left the cash rate on hold at 2.5 per ...
Source: NEWS.com.au   Full article at: NEWS.com.au
 

 
Update
7

6 weeks ago

RBA holds rate steady for 15th month

Nov 3 2014 9:30pm CST | Source: The Australian

THE RBA has held the official cash rate at its record low for the 15th consecutive month, and the third straight Melbourne Cup day. ...
Source: The Australian   Full article at: The Australian
 

 
Update
6

6 weeks ago

Melbourne Cup rate move a non-starter

Nov 3 2014 2:26pm CST | Source: NEWS.com.au

THE RBA is expected to keep the cash rate unchanged as it waits to see if the housing market will cool and economic growth picks ...
Source: NEWS.com.au   Full article at: NEWS.com.au
 

 
Update
5

7 weeks ago

Melbourne Cup day rate move a non starter

Oct 30 2014 10:50pm CDT | Source: NEWS.com.au

THE RBA is keeping the cash rate unchanged as it waits to see if the housing market will cool and if economic growth picks ...
Source: NEWS.com.au   Full article at: NEWS.com.au
 

 
Update
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With the markets fully focused on the outcome of the FOMC tonight, it may be best to avoid looking at assets which will be directly impacted by the Fed’s decision. In this regard, one currency pair that has caught my eye is the AUD/CAD, which could be on the verge of resuming its downward trend. Although the AUD has strengthened recently, so has the CAD after the Bank of Canada dropped the “neutral” policy wording from its latest rate statement, which the market ...
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Update
3

7 weeks ago

Students driving inner-city property: RBA

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Source: The Australian   Full article at: The Australian
 

 
Update
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Source: Your News Now - Finger Lakes   Full article at: Your News Now - Finger Lakes
 

 
Update
1

8 weeks ago

RBA urges speed on payment systems

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THE RBA’s Glenn Stevens has threatened to impose a regulatory solution if the nation’s banks can’t reach agreement on a new, faster payments ...
Source: The Australian   Full article at: The Australian
 

 
 

<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

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