Australia’s central bank will cut interest rates to 1 percent within a year to combat weak inflation and rising unemployment and could then turn to unconventional monetary policy, according to Alan Oster, the chief economist at National Australia Bank Ltd (NAB). Announcing updated rate forecasts in conjunction with the release of last month’s NAB business confidence and conditions survey, which both showed declines, Oster is focused on risks to the economic outlook in 2018, when a lift in natural gas exports...
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