Inflation and economy will be worse than expected, RBA predicts | Finance Report | ABC NEWS
Apart from lifting interest rates to an 18-year high, the Reserve Bank has also unveiled a set of bleaker economic forecasts.
The RBA now predicts the unemployment rate to peak at 5.1 per cent, while inflation is not expected to fall within the 2-3 per cent target range until the end of next year. It’s also forecasting a significant slowdown in Australia’s GDP, or economic growth.
The Australian dollar fell below 70 US cents, while the ASX 200 finished trading slightly higher despite the ongoing sell-off affecting Wall Street’s tech and AI stocks.
Presented by David Chau.
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Read more here: https://www.abc.net.au/news/2026-11-03/rba-interest-rates-markets-live-coverage/107338216
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