Key points of note in the Central Bank’s third Quarterly Bulletin for 2023 include:

  • The path back to lower rates of inflation is likely to be gradual and uneven. Inflation, forecast to average 5.4 per cent this year, is expected to be 2.3 per cent in 2025.
  • Tight labour market conditions will place upward pressure on wages, allowing for a catch up in real incomes following the decline in 2022. 
  • Modified domestic demand is forecast to grow by 2.9 per cent in 2023, 2.6 per cent in 2024 and 2.3 per cent in 2025.

Quarterly Bulletin 2023 can be read here