Along with the shift a committee decision making the minutes of the meeting are released alongside the decision.
In summary via Reuters:
- committee reached decision to cut by consensus
- committee reached a consensus that a lower path for the OCR over the projection period was appropriate
- members agreed given weaker domestic spending, and projected growth and employment headwinds, there was a need for further monetary stimulus
- key downside risk was a larger than anticipated slowdown in global economic growth, particularly in China and Australia
- on balance, the committee was more concerned about a continued global slowdown rather than a faster recovery
- committee noted upside and downside risks to the investment outlook
- was agreed that the outlook for employment growth is more subdued and capacity pressure is expected to ease slightly in 2019
- committee agreed that overall risks to the inflation projection were balanced
- was agreed that inflation expectations remain well anchored at the mid-point of the target range
- committee noted the limited pass-through of the nominal wage growth to consumer price inflation
