Australia's economy is going into a slowdown, which will eventually bring inflation under control.
That is the view of the Reserve Bank after officials appeared before a senate estimates hearing on Thursday, where they said a decline in momentum in economic growth was not a surprise.
GDP grew at 0.3 per cent in the March quarter, down from 0.9 per cent in the three months ended December, the Australian Bureau of Statistics reported on Wednesday.
While the annual rate held at 2.5 per cent, the central bank's chief economist Sarah Hunter expects annual GDP growth to slow to about 1.4 per cent by June 2027.
"We think that the economy is going to go into a bit of a slowdown now," Dr Hunter said.
