Reserve Bank of Australia September monetary policy meeting minutes:

Quick headlines via Reuters:

  • board agreed no strong case for near-term move in interest rates
  • next move in rates likely to be upward if economy develops as expected
  • RBA to be source of stability and confidence amid gradual progress to targets
  • significant global trade tensions a "material risk" to the outlook
  • recent modest fall in A$ helpful for domestic economy
  • board saw Australian GDP growth above potential over next couple of years
  • labour market positive, board noted marked decline in youth unemployment
  • foresaw above-average growth in jobs, jobless rate to fall gradually toward 5 pct
  • liaison pointed to modest increase in wages growth in coming quarters
  • drought expected to lower farm production, exports in 2h of year
  • mortgage hikes by banks implied "small rise" in average outstanding home loan rate
  • home price falls in Sydney, Melbourne more widespread across suburbs, price sectors
  • liaison with housing developers showed off-plan apartment sales had fallen
  • board discussed strains in emerging markets including turkey and Argentina


Full text is here:

Anything in that lot to surprise anyone?

No?