The Reserve Bank has revised its forecasts for economic growth, inflation and unemployment in its latest statement on monetary policy.
The Reserve Bank of Australia’s latest interest rate rise to 4.85 per cent is accompanied by an ugly set of numbers in its 75-page quarterly Statement on Monetary Policy , which exposes how fragile the economy is.
Inflation is much worse than expected just three months ago, fuelled by both international and, importantly, domestic causes.
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US stocks are falling after a report showed inflation was worse across the country last month than economists expected.
Curbing data centre construction, raising the GST, making companies pay more are ideas being pitched at the government.
