Here is more on the RBA minutes.

From Bloomberg:

  • noted low borrowing costs are helping boost domestic growth
  • “A strong pick-up in dwelling investment was in prospect and there was some evidence that consumer demand had strengthened a little”
  • “many businesses appeared to be waiting for an increase in current demand to occur before they were willing to increase investment spending”
  • “Despite commodity prices falling further over the past month, the exchange rate had appreciated a little further. While the decline in the exchange rate from its highs a year earlier would assist in achieving balanced growth in the economy, this would be less so than previously expected given the rise in the exchange rate over the past few months”

From MNI:

  • Reserve Bank of Australia slightly upgraded its view on the labor market and the overall economy
  • said, “a range of labor demand suggested a modest improvement in prospects for employment.”
  • RBA didn’t make additional comments on house prices, other than saying that housing market conditions remained strong
  • The RBA noted that “future employment growth was likely to continue to be concentrated in service industries.”

There is more at those links (above)