RBA adds: "More signs of Chinese GDP stabilizing, a boost for commodities. Terms of trade should rise in 2013 thanks to Iron ore, but ease gradually thereafter. Outlook for non-mining investment remains uncertain. Sees inflation close to mid-target range for coming year. Sees only modest jobs growth & unemployment edging up in 2013."
The statement is not overly dovish, yet immediate reaction of the Australian Dollar was to sell-off to new year lows at 1.0260.