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Inflation expected to reach 4pc
April 23, 2008 - 6:42AM
Source: ABC
Inflation tipped to rise again: The Consumer Price Index is expected to have jumped from 3 per cent to 4 per cent
Photo: ABC News
Official figures to be released today are tipped to show a steep rise in inflation over the last quarter.
The Reserve Bank and many economists predict the Consumer Price Index has jumped from 3 per cent to 4 per cent over the year to March.
RBA governor Glenn Stevens has suggested 4 per cent will be the highest that inflation will reach this cycle.
It is above the Bank\'s comfort band of between 2 and 3 per cent, but National Australia Bank chief economist Alan Oster says interest rates are unlikely to rise again this year.
The bottom line is that inflation is still very high and the Reserve Bank will be feeling nervous about it, he said.
However, having said all that, I think with the economy slowing the way it is the bank is going to sit and watch for a while.
April 23, 2008 - 6:42AM
Source: ABC
Inflation tipped to rise again: The Consumer Price Index is expected to have jumped from 3 per cent to 4 per cent
Photo: ABC News
Official figures to be released today are tipped to show a steep rise in inflation over the last quarter.
The Reserve Bank and many economists predict the Consumer Price Index has jumped from 3 per cent to 4 per cent over the year to March.
RBA governor Glenn Stevens has suggested 4 per cent will be the highest that inflation will reach this cycle.
It is above the Bank\'s comfort band of between 2 and 3 per cent, but National Australia Bank chief economist Alan Oster says interest rates are unlikely to rise again this year.
The bottom line is that inflation is still very high and the Reserve Bank will be feeling nervous about it, he said.
However, having said all that, I think with the economy slowing the way it is the bank is going to sit and watch for a while.
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