The International Monetary Fund (IMF) has warned that Australia will experience "drawn-out persistence in above-target inflation." Economists expect the Reserve Bank of Australia (RBA) to raise interest rates later this year. Key data such as unemployment figures on Thursday and consumer price data next Wednesday will influence the RBA's decision on a possible rate hike on 3 February. The IMF also updated its global economic outlook, noting that the world economy has "shaken off" the threat from Trump's tariffs due to strong tech investment in the US and a stable Chinese economy. Australia's economic growth forecast remains unchanged, with real GDP expected to grow by 2.1% in the current fiscal year and 2.2% next year. Global growth projections were raised to 3.3% for 2024 from 3.1% in October. However, the IMF cautioned about risks linked to the concentration of investment in the tech sector and potential negative effects from trade disruptions over time. In health news, NSW authorities have confirmed a measles case involving a person recently returned from Thailand. The person was infectious in public areas in greater western Sydney, including Priceline Pharmacy St Clair and Nepean Hospital Emergency Department. People visiting these locations in mid-January are advised to watch for symptoms like fever and rash and to check vaccination status. Dr Alvis Zibran urged the public to get the measles vaccine, which can still prevent the disease if given early after exposure. Lastly, a bushfire swept through the Fleurieu peninsula near Adelaide on Sunday, destroying at least two homes. Firefighters continue to battle the blaze amid warnings of extreme weather conditions across Australia.