No surprise at all, no change was expected from everyone.
- Repeats it sees likely period of interest rate stability
- Says China’s growth is in line with policy makers objectives
- Credit growth remains low overall
- Monetary policy remains accommodative
- Sees inflation consistent with target in next 2 years
- Exchange rate remains high by historical standards
- Decline in exchange rate to assist balanced growth
- Credit growth picking up gradually for households
- Data foreshadows solid expansion in housing construction
- growth seen strengthening, helped by low rates and lower $A
- policy appropriately configured for sustainable growth
- Unemployment to rise further before it peaks
AUD/USD popped the stops above 50, high of 0.8969 on EBS … but has dropped back again to around 0.8920
