RBA Sees China Risks Diminish as Housing Market ReignitesBy
Australia’s central bank sees a better short-term outlook for key trading partner China and a commodity-price windfall for the economy, while acknowledging a renewed rise in some local property prices.
The Reserve Bank of Australia made few changes in its quarterly forecasts update: growth of 2.5-3.5 percent to June 2017, rising to 3-4 percent thereafter; with core inflation increasing to 1.5-2.5 percent by end-2018. Headline inflation was revised up due to higher tobacco prices…
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