Reserve Bank of Australia Raises Economic Forecasts and Signals Need for Interest Rate Hikes
The Reserve Bank of Australia has increased its economic growth and inflation forecasts. Policymakers suggest interest rate rises are necessary to restore balance.
The Reserve Bank of Australia has raised its forecasts for economic growth and inflation in its latest quarterly Statement on Monetary Policy. The central bank for Australia 
AUadopted a technical assumption of 60 basis points of interest rate rises this year as part of its projections. Policymakers noted that economic activity was hitting speed limits and stated that a couple of interest-rate increases would be needed to restore balance.
AUadopted a technical assumption of 60 basis points of interest rate rises this year as part of its projections. Policymakers noted that economic activity was hitting speed limits and stated that a couple of interest-rate increases would be needed to restore balance.
