Most important from RBA meeting minutes

19.07.2016 / 04:01

Rating:

- Repeats rising AUD would complicate economic rebalancing
- Watching data on inflation, employment and housing to refine outlook for economy
- "To make any adjustment to the stance of policy that may be appropriate" depending on data
- RBA Board also awaiting updated staff forecasts for August review
- Data suggested Australian economy grew at moderate pace in Q2, net exports less of a boost
- Inflation expected to remain quite low for some time given subdued wages, cost pressures
- Measures of inflation expectations remained below average
- Liaison suggested retail sales picked up in June, but price discounting continuing
- Recent labour data more mixed, leading indicators still pointed to jobs growth
- Transition of economic activity to non-resources sector "well advanced"
- Liaison pointed to growth in non-mining business investment
- RBA judged uncertainty caused by Brexit to have only a modest impact on global growth

AUD drops against all crosses.

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Most important from RBA meeting minutes

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