- Expects period of low inflation followed by gradual upward movement
- Expectations over medium term anchored
- Monitor developments closely, will consider all instruments available
- Will maintain high degree of monetary accommodation
- Rates to remain at present or lower levels for extended period
- Forward guidance based on subdued outlook for inflation, high unutilised capacity
- Risks to outlook remain on downside
- Geopolitical risks may have potential to impact outlook
- Inflation to remain low before coming back to target in 2016
- Council sees upside and downside risk to inflation
- Possible repercussions of geopolitical risks and exchange rate developments will be monitored closely
No shocks here. 1.40 here we come. High so far 1.3993
