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Australia Statement on Monetary Policy

Australia Statement on Monetary Policy

“The Australian economy is expected to expand at a solid pace over the next couple of years, and labour market developments have been quite positive of late. The drag on growth from the end of the mining investment boom has eased and is likely to end sometime in the next year or so. Investment in the non-mining sector has been increasing but growth in consumption has been below average. Inflation and wage growth remain low. Both are expected to increase only gradually over time. A number of factors are serving to hold inflation down. Wage growth has remained low and strong competition in the retail sector is …(full story)

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