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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

  • Market Data
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