RBA's Quarterly SOMP - Trims near-term jobless rate forecast, inflation forecasts little changed

The Reserve Bank of Australia (RBA) trimmed the near-term unemployment forecast and kept the inflation and growth forecasts largely unchanged, the bank's quarterly Statement on Monetary Policy (SOMP) shows. 

Key points

Higher AUD would dampen growth. 

Lowers jobless estimate to 5.25% from 5.5% through June 2019.

Says, "will be 'some time' before the economy reaches full employment".

Sees underlying inflation at 2.25% by June 2020.