If the current global recovery were to lose momentum, it would mean a less favourable environment for growth of the Australian economy, and thus lower inflation outcomes in the medium term. (rba.gov.au)
In some ways, this has been supported by a narrowing gap between actual inflation outcomes and their 20 - year averages. (morganstanley.com)
The low wage increases are also contributing to the subdued inflation outcomes. (rba.gov.au)