Reserve Bank of Australia - minutes of the February 2018 Monetary Policy Meeting
- Low rates helping reduce unemployment, lift inflation
- Further progress on inflation likely to be only gradual
- RBA repeats rising AUD would impede pick up in economic growth, inflation
- AUD TWI still within narrow range of past couple of years
- Underlying inflation seen rising gradually to 2.25 pct by mid-2020
- Strong price competition in retail sector expected to last for few years yet
- Wage growth remained subdued despite strong employment, recent deals to weigh on growth
- Pick up in household incomes needed to support consumption, risks to downside
- Tighter mortgage lending rules had helped contain housing risks
- High household debt levels still warranted careful attention
- Housing market conditions had generally eased, especially in Sydney
- Global growth could continue to surprise on upside given synchronised upturn
- Global financial conditions accommodative despite recent volatility in equity markets
Headlines via Reuters (bolding mine) ... basically nothing of surprise in there, which is what was expected.
Familiar themes reiterated by the Bank. And, they remain in hold for some time to come (IMO). AUD barely changed.
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