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Australia's cenbank cuts inflation forecasts, rate rises some distance away

Reuters  |  SYDNEY 

By Swati Pandey and Wayne ColeSYDNEY (Reuters) - Australia's central bank has sliced its forecasts for core inflation which is seen lurking under its long-term target band for another two years, a strong signal that interest rates won't rise for a long time to come. In its 72-page statement on monetary policy on Friday, the Reserve Bank of Australia (RBA) also projected little improvement in the unemployment rate despite a surge in jobs since the start of the year.Just last August, the central bank had predicted core inflation would reach 2 percent in the second half of this year. But data ...

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First Published: Fri, November 10 2017. 10:46 IST
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