RBA downgrades economic growth

The Reserve Bank has revised its GDP growth forecast downwards.

The Reserve Bank of Australia has downwardly revised its gross domestic product (GDP) growth forecast for the year to December, but maintained its outlook on inflation.

In the RBA's August statement on monetary policy, the central bank revised GDP growth down to 2.25 per cent in the year to December, from 2.5 per cent in its May statement.

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