First from Ian Verrender:
Forecasting is never easy. You only need to look at the rosy forecasts dished up by Treasury over the past decade. The Reserve Bank hasn’t been any better.
They’ve pretty much all been wrong. Wages growth has been set for an Apollo mission-style take-off every year in recent memory. Inflation, household income and, until recently, GDP were all on the cusp of returning to normal. Until they didn’t, and the prediction was repurposed for the following period.
