The Reserve Bank of Australia has decided to keep the cash rate unchanged at 2%, on par with expectations. The central bank had expressed its easing bias in its recent statements saying persistent low inflation may give scope for easier policy, if that is suitable  to help demand. The Board has moderated the statement changed the word "may" with "would", which seems to be a stronger word than "may". Hence, it can be concluded that the RBA has slightly solidified its easing bias.

If the strengthening hinted at an imminent policy change, then other comments would have been altered considerably. The RBA Board is still of the view that there are reasonable prospects for continuous growth in the economy. It still remarked that the economy's non-mining parts bolstered through 2015.

The central bank's comments regarding the labor market was subdued. According to the RBA, the labor market conditions rebounded in 2015. It stated that the jobless rate for February declined, while the employment growth increased. The most significant alterations in the central bank's statement was regarding commodity prices that have fallen significantly in  the past couple of years.

The RBA Board's comments regarding housing credit, inflation and financial market conditions remained unchanged. The Board, in its conclusions stressed at the requirement for new information regarding of the recent rebound in the labor market scenario is continuing and whether the financial market volatility signifies weaker domestic and global demand.

The Reserve Bank of Australia's Board is expected to be still a little way from delivering the easing bias. The central bank will keep a look on monitoring developments in China's economy and at the US Fed. The RBA is expected to have a steady policy outlook.