RBA Monetary Policy Meeting Minutes

Written February 15, 2010 at 7:39 PM EST by  

The RBA released the minutes from it’s FEb 2nd meeting; here are the highlights.

  • February rate pause was ‘finely balanced” decision.
  • Rate increases are not needed at every meeting.
  • RBA board says concerns on sovereign debt had increased.
  • Earlier rate raises have given the board more flexibility.
  • More increases in cash rate are likely needed.
  • Cash rate is no longer exceptionally accommodative.
  • Mining sectory growth will be stronger.
  • Inflation will be consistent with it’s target.
  • Bond issuance by Australian banks has been large.
  • Rate pause gives it time to monitor overseas events.
  • Australian business investment will pick up.
  • There is uncertainty over pace of growth in major economies.

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