SYDNEY: Australia's central bank cut its 2013 growth forecast, warning the mining boom will peak earlier and at a lower level than expected as weaker commodity prices curb investment plans.
The Reserve Bank of Australia (RBA) is now predicting annual growth of just under 2.75% for the year ending 2013, down from 3% previously. Growth for 2014 is seen near 3%, little-changed from its previous forecast in August.
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