360° Coverage : Reserve Bank lowers outlook for Australian economy

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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...

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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
11

8 hours ago

RBA urges Increased housing supply

Oct 1 2014 7:05pm CDT | Source: NEWS.com.au

THE RBA says that an emphasis on increasing the supply of housing is needed to slow pri ...
Source: NEWS.com.au   Full article at: NEWS.com.au
 

 
Update
10

1 day ago

Home price rises look to be cooling

Sep 30 2014 8:50pm CDT | Source: NEWS.com.au

THE housing market looks to be cooling, with home prices recording a flat result in September - a result likely to be welcomed by the ...
Source: NEWS.com.au   Full article at: NEWS.com.au
 

 
Update
9

2 days ago

Investors hogging credit for housing

Sep 30 2014 2:23am CDT | Source: NEWS.com.au

INVESTOR housing credit increased to 9.2 per cent over the year, its fastest annual pace since before the global financial crisis, RBA figures ...
Source: NEWS.com.au   Full article at: NEWS.com.au
 

 
Update
8

2 days ago

Home loans soar to $7.7b

Sep 29 2014 11:07pm CDT | Source: NEWS.com.au

HOUSING loans, especially to investors, dominated credit growth in August, supporting the RBA's view that housing lending is 'unbalance ...
Source: NEWS.com.au   Full article at: NEWS.com.au
 

 
Update
7

2 days ago

Investor home loans highest since 1990

Sep 29 2014 10:31pm CDT | Source: The Australian

GROWTH in loans to investors to buy houses and apartments has accelerated to a six-and-a-half year high, fanning fear ...
Source: The Australian   Full article at: The Australian
 

 
Update
5

6 days ago

Economists grapple with 'macropru'

Sep 25 2014 11:17pm CDT | Source: NEWS.com.au

ECONOMSITS this week pondered the implications of the RBA's "jawboning" about the use of prudential reguations to manage the ho ...
Source: NEWS.com.au   Full article at: NEWS.com.au
 

 
Update
4

6 days ago

The move that could bring house prices down

Sep 25 2014 11:07pm CDT | Source: Herald Sun

THE cost of a home has skyrocketed across the country in the past year, and the RBA has warned it has to take a ...
Source: Herald Sun   Full article at: Herald Sun
 

 
Update
3

6 days ago

The move that could bring house prices down

Sep 25 2014 8:13pm CDT | Source: NEWS.com.au

THE cost of a home has skyrocketed across the country in the past year, and the RBA has warned it has to take ac ...
Source: NEWS.com.au   Full article at: NEWS.com.au
 

 
Update
2

6 days ago

Mortgage regulations "might help": RBA

Sep 25 2014 3:31am CDT | Source: NEWS.com.au

RBA boss Glenn Stevens is open to the idea of new regulations on home loans, but says they are not a permanent solution ...
Source: NEWS.com.au   Full article at: NEWS.com.au
 

 
Update
1

1 week ago

RBA sounds lending alarm

Sep 24 2014 9:00am CDT | Source: The Australian

BANKS are facing a fresh hit to earnings after the RBA flagged that regulators could curb lending to property ...
Source: The Australian   Full article at: The Australian
 

 

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<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
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