The Reserve Bank of Australia (RBA) has updated its forecast for the economy of the oceanic country as analysts at ANZ Research are still thinking on a rate cut in April. AUD/USD continues its downtrend started this year. Key quotes “The RBA sees growth getting back to around 3% in 2021. In the near-term, GDP growth is expected to be lower than previously forecast, reflecting the impacts of the coronavirus and the bushfires.” “The RBA forecast that the unemployment rate would decline sooner rather than later, yet would still only reach 4.8% by mid-2022, above the estimated NAIRU of 4.5%.” “We expect the unemployment rate to drift higher, as employment growth slows before the labour market restrengthens.” “We have stuck with our April rate cut call, but the risk is that the next cut comes later.” “The RBA now expects H1 2020 headline inflation to be softer than it previously forecast, revising down to 1¾% from 2%.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CAD climbs to fresh multi-month highs above 1.3300 ahead of key jobs data FX Street 2 years The Reserve Bank of Australia (RBA) has updated its forecast for the economy of the oceanic country as analysts at ANZ Research are still thinking on a rate cut in April. AUD/USD continues its downtrend started this year. Key quotes “The RBA sees growth getting back to around 3% in 2021. In the near-term, GDP growth is expected to be lower than previously forecast, reflecting the impacts of the coronavirus and the bushfires.” “The RBA forecast that the unemployment rate would decline sooner rather than later, yet would still only reach 4.8% by mid-2022, above the estimated NAIRU of 4.5%.”… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
