Reserve Bank of Australia March meeting minutes

  • Low rates playing a part in lowering unemployment, lifting inflation
  • RBA repeats further progress on policy goals likely to be only gradual
  • GDP growth expected to exceed potential growth in 2018
  • CPI inflation expected to rise to a little above 2 pct this year
  • Repeats rising A$ would slow pick up in economic growth, inflation
  • A$ TWI still within range of past couple of years
  • Strong employment had not yet led to a "definitive pick-up" in wages growth
  • RBA board saw some upside risks to forecasts for non-mining business investment
  • High household debt levels added to uncertainty over consumption, warranted careful attention
  • Housing markets in Sydney and Melbourne had slowed, stable elsewhere
  • Tighter mortgage lending rules had helped contain housing risks
  • Expiry of interest only loans to pressure some borrowers, but overall impact limited
  • Risks to Australia, global economy would increase if countries responded to US tariffs
  • US fiscal policy to be significantly more expansionary, add to inflation there
  • Global financial conditions accommodative despite higher yields, market volatility

Those quick Headlines via Reuters

I don't see anything of too much surprise, AUD showing little response also.

Familiar themes again from the Bank:

  • further progress ... to be only gradual
  • Repeats A$ comments
  • Strong employment had not yet led to a "definitive pick-up" in wages growth
  • upside risks to forecasts for non-mining business investment
  • High household debt levels added to uncertainty over consumption

Full text is here: