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