RBA March meeting Minutes: Low inflation provides scope for further easing if necessary

Minutes of the Reserve Bank of Australia's March monetary policy board meeting

• Low inflation would provide scope for further easing if necessary
• Board members saw reasonable prospects for continued economic growth
• Appropriate to leave cash rate at an accommodative setting
• To watch labour market trends, impact of turbulence in financial markets
• Recent data suggested economy growing at moderate pace in Q1
• Low rates, past fall in Australian dollar helping rebalance economy to non-mining activity
• Conditions in housing market had eased, lending for investment had slowed
• Labour market had clearly improved, leading indicators consistent with jobs growth
• On the long-term outlook for China, noted urbanisation to aid growth in working-age population
• Low level of foreign currency debt differentiated China from past EM crises
• China's rising household incomes positive for Australian exports over long run

Full text is here: Minutes of the March 2016 Monetary Policy Meeting of the Reserve Bank Board