Aussie dollar drops as RBA cuts inflation outlook
The Reserve Bank of Australia (RBA) has cut its forecasts for inflation through to the middle of 2018, noting domestic cost pressures were a "key source of uncertainty" over the period.
Earlier this week the RBA lowered its policy rate by 25bp to 1.75%, after first-quarter inflation figures disappointed. Annual CPI inflation dropped to 1.3% in March.
The RBA now expects inflation between 1% and 2% at the end of 2015, a full percentage point lower than its earlier forecasts, in February. It
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