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Latest Reserve Bank of Australia economic forecasts - February 2019

The Reserve Bank of Australia have released their latest Statement of Monetary Policy which contains forecasts for the Australian Economy over the next several years.  This Statement received widespread media coverage - whilst the RBA's monetary policy stance remains neutral, the next adjustment of the offical cash rate (1.50%) looks to be downwards after more than two years of expectation that the next move would be upwards

The RBA indicated that domestic economic conditions have been softer than were expected at the time of the November 2018 Statement.  As a result, the forecast for GDP growth has been revised lower. Consistent with this, the forecast for inflation has also been revised slightly lower. In summary, GDP growth is expected to be a little above trend over the forecast period and underlying inflation is expected to pick up to 2 per cent by late 2019 and to be a little higher in the following year.

The Statement can be accessed by clicking on the forecast table below.

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