The House of Representatives Standing Committee on Economics today tabled the report of its Review of the Reserve Bank of Australia Annual Report 2018 (First Report). The report provides a summary of issues raised at the public hearing with the Reserve Bank in Sydney on 22 February 2019.
The Chair of the committee, Mr Tim Wilson MP, said ‘the central scenario remains positive with the RBA expecting Australia’s economy to continue to grow above trend, reaching around 3 per cent by the end of the year. This is supported by rising business investment and higher levels of spending on public infrastructure.’
‘Inflation continues to remain low and stable with CPI inflation at 1.8 per cent over 2018 and underlying inflation at 1¾ per cent. Interest rates continue to remain unchanged at 1.50 per cent.’ Mr Wilson said.