RBA's latest key economic forecasts

THE RESERVE BANK'S LATEST KEY ECONOMIC FORECASTS:

GDP (previous forecast in brackets)

June 2021 - 9.5 per cent (9.25 per cent)

Dec 2021 - 4.0 per cent (4.75 per cent)

June 2022 - 4.5 per cent (4.0 per cent)

Dec 2022 - 4.25 per cent (3.5 per cent)

June 2023 - 2.75 per cent (3.0 per cent)

Dec 2023 - 2.5 per cent (n/a)

Unemployment

Dec 2021 - 5.0 per cent (5.0 per cent)

June 2022 - 4.5 per cent (4.75 per cent)

Dec 2022 - 4.25 per cent (4.5 per cent)

June 2023 - 4.25 per cent (4.5 per cent)

Dec 2023 - 4.0 per cent (n/a)

Inflation

Dec 2021 - 2.5 per cent (1.75 per cent)

June 2022 - 1.5 per cent (1.25 per cent)

Dec 2022 - 1.75 per cent (1.5 per cent)

June 2023 - 2.0 per cent (2.0 per cent)

Dec 2023 - 2.25 per cent (n/a)

Underlying Inflation

Dec 2021 - 1.75 per cent (1.5 per cent)

June 2022 - 1.5 per cent (1.5 per cent)

Dec 2022 - 1.75 per cent (1.75 per cent)

June 2023 - 2.0 per cent (2.0 per cent)

Dec 2023 - 2.25 per cent (n/a)

(Source - RBA quarterly statement on monetary policy)