RBA trims June 2020 growth forecast

The Reserve Bank has confirmed a downgraded full-year economic growth forecast for 2019 and now thinks it will take longer before growth starts heading back toward its unchanged longer-term target.

The central bank has trimmed its growth forecast for the 12 months to December by 0.25 percentage points to 2.25 per cent, and also downgraded its June 2020 forecast to 2.5 per cent from the 2.75 per cent it flagged in August.

Although the Friday’s quarterly Statement of Monetary Policy left the RBA’s June 2021 forecast unchanged at 3.0 per cent, the Australian dollar dipped from 69.02 US cents to 68.86 US cents at 1159 AEDT.


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