Link to the full thing is here:
Minutes of the February 2022 Monetary Policy Meeting of the Reserve Bank Board
Headlines via Reuters:
- The Board is prepared to be patient as it monitors how the various factors affecting inflation in Australia evolve.
- economic outlook was being supported by household and business balance sheets
- while inflation had picked up, members agreed it was too early to conclude that it was sustainably within the target band.
- members observed that inflation had picked up more quickly than the bank had expected
- members noted that some moderation in inflation was expected as supply problems were resolved
- members observed that the achievement of the goals was within sight for the first time in several years
RBA Governor Lowe spoke last week (i.e. well after this February meeting) and conceded a 2022 rate was a possibility. This was a big change from Lowe. He did caveat his comment (what central banker wouldn't?):
There is not really much new in these minutes. AUD barely changed after a minor wiggle:
