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The Reserve Bank of Australia is forecasting a mild uptick in its gross domestic product forecast, and a slow moderation of inflation.
The RBA's quarterly monetary policy statement, issued Friday in Sydney, forecasts underlying inflation will ease from about 3.25 percent through 2009 to 3.0 percent by mid 2010 and 2.5 percent by the end of 2010 before rising to 2.75 percent by the end of 2011 and into 2012.
The figures generally fall within the RBA's target band for inflation of between two and three percent.
Gross domestic product is forecast to rise by 3.25 per cent through 2010 and 3.5 per cent through 2011.
The RBA also said the unemployment rate is now forecast to decline modestly through mid 2012. The bank said joblessness likely peaked at 5.75 percent.
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