The minutes of the Reserve Bank of Australia (RBA) April monetary policy meeting released today showed the policymakers see little reason for a near-term move in policy.
- Board agreed there was not a strong case for near-term move in policy
- Given current circumstances, the board agreed with next move in rates likely to be up
- Progress on unemployment and inflation likely to be only gradual
- Inflation to remain low for some time given retail competition, slow wage growth
- The economy "Appeared likely" to grow faster this year than in 2017
- An appreciation in the A$ would slow expected acceleration in the economy
- Wages expected to pick up gradually as leading indicators pointed to more job gains
- Still spare capacity in labor market, underemployment at high levels
- High household debt creates uncertainty for consumption outlook
- Board noted the rise in US money market rates had flowed through to Australian rates
- Risk of escalation in global trade restrictions needed to be monitored closely
- Conditions in global economy positive, china debt levels an important risk
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.