File this under stating the bleedin' obvious:
Australian Finance Minister Mathias Cormann has hinted at a downgrade in growth forecasts
- Said that while the government's May budget GDP growth forecast was within the Reserve Bank's new range - down to 2.5 per cent to 3.5 per cent from 2.75 per cent to 3.75 per cent - he acknowledged the bank's revised forecast was weaker
- The Mid-year Economic and Fiscal Outlook in December will update the economic and fiscal outlook from the previous budget
- "Obviously our growth forecast reflects conditions at the time of the budget," saying it was based on best avaliable information at the time
Via the Australian Financial Review (may be gated)
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The RBA has lowered their growth forecast (Trims GDP forecast)
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AUD has trickled a little lower this morning. Chinese July trade data was reported weak , which may be a contributing factor. Although, if it the AUD had have gone up we could always say it was on the hope of more stimulus efforts. Just so.
