The slight change in tone from the RBA has been noted, and that while rates are on hold for some time, the RBA is expressing some concern about the economy. MNI has their take on the minutes:
- Reserve Bank of Australia appeared to be tilting to a slightly dovish policy stance
- Said it was unsure if current low rates would be supportive enough to offset the impact of the expected decline in mining investment and the effect of planned fiscal consolidation
- However … the RBA overall stuck to its previous guidance that “the current accommodative stance of policy was likely to be appropriate for some time yet”
More here: RBA Unsure Low Rate Wld Offset Mining Capex Fall,Budget Impact
