No change to the cash rate, as expected by everyone

From the accompanying statement:

  • RBA says prudent course is period of stability in rates
  • AUD still above estimates of fundamental value, given falling commodity prices
  • Says inflation to be consistent with target band
  • Most data consistent with moderate economic growth
  • Still sees below trend growth for next few quarters
  • Home prices continue to rise
  • Says sees inflation continuing to run between 2-3 pct
  • Will be some time yet before unemployment falls

Quick headlines via Reuters

Link to full text of the accompanying statement

more to come