RBA MINUTES: JUDGED CURRENT STANCE OF POLICY CONSISTENT WITH GROWTH, INFLATION TARGETS
- Steady Decision Took Into Account Rate Cuts In May And August, Recent Data - Estimated Around Half Of The August Rate Cut Had Been Passed On To Bank Customers - Repeats Rising A$ Would Complicate Economic Rebalancing - Decline In A$ Since 2013 Continued To Support Traded Sector Of Economy - Data Suggest Economy Growing In Line With Potential - Forward Indicators Consistent With Little Change In Unemployment Rate In Coming Months - Cost Pressures, Wage Growth Set To Remain Low For Some Time - Conditions In Established Housing Market Had Generally Eased, House Price Growth Moderated - High Home Building Approvals Pointed To Significant Amount Of Work In Pipeline - Economic Drag From Falling Mining Investment Looked To Have Peaked In 2015/16