Overnight press: IMF says Australian economy likely to remain in the doldrums this year

From the Australian Financial Review overnight:

The IMF says the Australian economy is likely to remain in the doldrums this year

• Says unemployment holding above 6%
• IMF’s outlook for Australia implies the economy will stay around 0.5% below the 3 – 3.25% pace analysts regard as “trend”, or the level at which it brings down unemployment
• The headline inflation rate was expected to remain in the lower half of the Reserve Bank of Australia’s 2 – 3% target range in 2014 and 2015
• Cited slowing mining investment
• IMF warned while the global economy was still “fragile” and “far short” of a fully fledged recovery

Something for the Aussie bears (it might make up a bit for last night’s AUD move)

There’s more detail at (gated): Australia still stuck in doldrums: IMF