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Bullet points of RBA minutes

Posted by Akhilesh Ganti on Feb 18, 2013 7:46:00 PM

(from MNI) RBA: From the minutes of the RBA's February 5 board meeting:

-INFLA OUTLOOK AFFORDS EASING IF DEMAND NEEDS SUPPORT
-RATE SENSITIVE SECTORS REACTING TO EASING, MORE EXPECTED
-LEFT CASH RATE UNCH AS POLICY ALREADY ACCOMMODATIVE
-PREVIOUS EASING STILL WORKING ITS WAY THROUGH THE ECONOMY
-EXCH RATE REMAINED HIGH DESPITE DECLINE IN TERMS OF TRADE
-INDICATORS SUGGEST NON-MINING TO BE WEAK NEAR TERM
-DEPOSIT RATES TO HAVE BIGGER INFLUENCE ON BKS FUNDING COST
-2013 GROWTH FORECAST LOWERED ON HIGH DLR, NON-MINING VIEW
-WIDELY EXPECTED THAT HIGH IRON ORE PRICES WONT SUSTAIN

Essentially reiterated the need to remain vigilant and kept open the possibility of further cuts IF NEEDED.

 

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