RBA SoMP: Cuts near term outlook on growth, more upbeat further out

 The RBA’s quarterly Statement on Monetary Policy (SoMP) has been published, with the Central Bank trimming its GDP outlook near term., while showing more optimism further out. 

Key headlines - via Reuters

Cuts GDP forecast for June 2017 by 1 ppt to 1.5-2.5 pct, December unchanged at 2.5-3.5 pct, June 2019 2.75-3.75 pct

Forecasts underlying inflation at 1.75 pct June 2017, 1.5-2.5 pct out to December 2018, 2-3 pct by June 2019

Judged holding policy steady consistent with growth, inflation targets

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