Sentences with phrase «cent off inflation»
Graph 8 shows the net result of the linkage: a 1 per cent increase in the real cash rate, lasting for two years, would raise the exchange rate by around 3 per cent and would trim 0.3 per cent off inflation, with a lag which reaches its peak effect in ten quarters.
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Since 1993, when the 2 — 3 per cent objective was first articulated, average CPI inflation (excluding the one - off GST effect) has been 2.5 per cent.
If it raises rates too quickly, the bank risks choking off economic growth, falling short of its ideal inflation target of two per cent and could lead to the type of financial stability risk it's trying to avoid, he said.
An exception is China, where the inflation rate has climbed to 3.2 per cent — the fastest increase in prices since early 1997 — although this partly reflects one - off factors that saw food prices soar.
This will hit the poorest by far the hardest: three per cent inflation would see the poorest lose 3.3 % of their disposable income, compared with 1.6 % for the best - off.