- ‘Persistently High’ A$may hurt growth more than in past.
- Keeps CPI forecast at 2.5%-3.5% gain in year to June 2013.
- Predicts 2012 average growth of 3.75%vs. 3% forecast in May.
- Sees 2.5 % core inflation in year to Dec.31 vs. 2.25%.
- Sees tentative signs housing market is starting to improve.
- Forecast core inflation in 2%-3% target range 2013-2014.
- Says elevated currency is key part of structural change.
- Predicts 2013 average growth of 2.75%-3.25% vs. 3%-3.5%.
- Saw inflation near target, near-trend growth in July, August.
- Says Europe poses biggest downside risk to global economy.
- Saw early signs of rate cut effects at July, August meeting.
- Says Australia ‘well placed’ to respond to global shocks.
- Terms of trade to fall more, staying historically high.
BBG
No big surprises here as Aussie$ remains firm at 1.0565/70 level.
