Aussie dollar drops as RBA cuts inflation outlook

australia-fundraising
AUD dropped below 74 cents on May 6

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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