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Decrease in AUD after the RBA minutes

SYDNEY, AUSTRALIA - FEBRUARY 03: A Pedestrian walk past the Reserve Bank of Australia as economists wait to see if The Reserve Bank of Australia cut official interest rates today, at the RBA on February 3, 2009 in Sydney, Australia. The RBA are expected to cut rates by up to 1 percent this afternoon, taking rates down to 3.25 per cent, with further cuts already being discussed for next month. The rate cut would put pressure on the top four Australian banks to follow suit and cut their rates on the back of recently announced huge profits, to rates not seen in Australia since the 1964. (Photo by Brendon Thorne/Getty Images)

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Further rise in AUD would result in slower pick-up in growth, inflation

Jobs growth to support household incomes and spending, but high debt a risk

Labour market still has spare capacity, wage growth to remain low for some time

Need to balance risks of high household debt against low inflation

Leading indicators suggested jobs pick up was likely to continue

Public infrastructure spending strong


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