High inflation may last another two years unless rates rise again

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May 3, 2024 - 12.04pm

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The Reserve Bank of Australia might not achieve its inflation target for at least two years without raising rates further, unless Treasurer Jim Chalmers uses the coming budget to cool the economy, economists warn.

They say the RBA will almost certainly be forced to lift its near-term inflation forecasts at its board meeting next week after March quarter inflation figures came in stronger-than-expected.

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