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The global economy is maintaining momentum and inflation is gradually moving higher in line with central bank targets.
Growth in US average hourly earnings is still not showing conclusive evidence of a sustained pickup in wages.
The threat of a trade war between the US and China is creating significant uncertainty for markets.
Euro area inflation was 1.4% in March, up from 1.1% in February but still well below the ECB’s target.
The Australian economy continues to improve, but the RBA is wary of the impact of interest rate rises on the household sector.