- Board has not closed off possibility of easing further if needed
- See mounting evidence that past rate cuts supporting activity, asset values
- Impact of past easing to continue for some time, so prudent to hold rate steady
- Drop in mining investment to be larger than first thought, jury out on non-mining
- Labour market remained soft, government demand also expected to be weak
- Housing market continued to strengthen, prices, building approvals up
- Liason pointed to further growth in retail sales in October
- Some measures of business confidence and conditions had improved markedly
- Economy to grow below trend in coming year, reasonable to expect pick up in 2015
- Resource exports, notably iron ore, growing strongly as supply comes online’
- Strong China investment and consumption fuelling demand for resource imports
–
Minutes of the Reserve Bank of Australia November 2013 monetary policy meeting
