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?
