News live: IMF forecasts Australia to experience ‘drawn-out’ inflation; measles alert for western Sydney
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The International Monetary Fund (IMF) forecasts Australia will experience prolonged inflation above target levels, prompting speculation about potential interest rate hikes by the Reserve Bank of Australia (RBA). The IMF maintained its growth projections for Australia, estimating a 2.1% GDP increase this fiscal year and 2.2% the next. Globally, the IMF upgraded its growth forecast to 3.3% due to strong tech investment in the US and a resilient Chinese economy. In other news, a measles alert has been issued for western Sydney. Additionally, the Nationals party expressed support for banning hate groups and reforming the migration act, emphasizing the need to avoid unintended consequences in the legislation.
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