World Business Quick Take

AUSTRALIA Bank lifts forecasts The Reserve Bank of Australia yesterday lifted its inflation and wage growth forecasts while predicting that unemployment would remain under 4 percent through the middle of 2024. Headline inflation is expected to reach 7.75 percent by December, the central bank said in its quarterly Statement on Monetary Policy. The headline and core measures are predicted to remain well above the bank’s 2 to 3 percent target over the next year before hitting the top of its band at the end of the forecast period in December 2024. The outlook assumes the cash rate will rise to 3 percent