Reserve Bank of Australia governor Glenn Stevens said Friday in a statement to the House of Representatives economics committee that markets remain on edge and the global growth outlook does not look as strong as it did six months ago.
The year-end consumer price inflation rate will probably remain well above 3% in the September quarter but is then likely to come down, Stevens said.
He added that it would be reasonable to expect that a decline in confidence arising from the recent international events may well dampen demand somewhat compared with the outlook the central bank gave in early August.
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