- Cuts 2013 GDP outlook on weaker mining, fiscal tightening.
- Demand surge could boost inflation as A$ effects wane.
- Sees gradual fall in bulk commodity prices in longer term.
- Sees 15% terms of trade drop by year-end vs 2011 peak.
- Says mining boom to peak sooner, lower level than expected.
- Repeats monetary policy appropriate ‘for the time being’.
- Infrastructure investment helped China growth stabilize.
- RBA to monitor other demand sources as resource peak nears.
- RBA forecast assume A$ at 1.0400 vs. $1.06 in August outlook.
- Says global conditions improved, risks tilted to downside.
- Sees modest job growth, unemployment going a little higher.
- Cites estimates surplus shift to cut growth 0.75-1.5 pts.
- Says public spending to subtract from growth in 2012-13.
- Says average GDP growth at 2.25%-3.25% vs. prior 2.75%-3.25%.
bloomberg headlines
AUD/USD has done very little dancing, trading at 1.0380/85.
