Reserve Bank of Australia August meeting minutes
- RBA board would consider further policy easing if needed
- to assess developments in domestic, global economies before considering easing
- reasonable to expect "extended period" of low interest rates
- risks to economy tilted to downside in near term, more balanced further out
- board reviewed experience of developed nations with unconventional monetary policy
- noted a package of measures tended to be more effective than single steps
- AUD at lowest level in some years, recent fall to support exports, tourism
- few signs of inflationary pressures emerging, downside risks to some CPI components
- more spare capacity in labour market than previously thought, to limit wage growth
- saw firmer GDP growth in Q2, outlook for consumption more balanced than for some time
- consumption supported by tax rebates, stabilisation in housing market
- escalation in China - US trade dispute a downside risk to global growth
- global companies had already significantly revised down investment intentions
- further monetary easing "widely expected" around the world
I bolded a few points above. There is nothing surprising here. Headlines via Reuters.
If you missed the previews, they contained useful tips for this:
- AUD traders - heads up preview for the RBA August meeting minutes due Tuesday
- RBA August meeting minutes due Tuesday 20 August 2019 at 0130GMT - preview
Full text is here: