The Statement on Monetary Policy (SoMP) is released each quarter and it is closely watched for the updates to the RBA’s own forecasts. In this quarter’s Statement, the RBA has lowered its forecasts for GDP growth and inflation. It forecasts GDP growth in 2018 to be 2.75%, down from 3.0%, while forecasts for headline and core inflation rates for 2017-18 have been cut by 0.25% to 2.00% and 1.75% respectively....