Bloomberg have been quick to get up an article on the RBA May 7 policy board meeting minutes.
My quick summary is here too.
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On mining investment and capex, a key concern going forward:
“Members noted that the nature of mining investment was changing,” the minutes showed. “There had been some pull-back in coal investment plans in the previous year and a significant amount of investment in iron ore projects had been completed. In contrast, a larger share of ongoing mining investment related to liquefied natural gas projects, which were based on long-term supply contracts. This characteristic implied less uncertainty about mining investment arising from volatility in commodity prices over the next couple of years.”
