Summary: RBA lowers GDP forecasts; underlying inflation forecasts reduced; jobless rise now expected earlier; headline inflation forecasts lowered; Westpac: domestic data weaker since December than assumed in November forecasts. The Statement on Monetary Policy (SoMP) is released each quarter and it is closely watched for updates to the RBA’s own forecasts. In November’s SoMP, the opening sentence of the “Outlook” section referred to slowing global growth which would remain “well...