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RBA minutes - March 5, 2013 meeting (MNI)

Posted by Akhilesh Ganti on Mar 18, 2013 8:35:00 PM

Main points from the RBA's March 5 board meeting. Not much of a reaction yet from the Aussie

  • MORE CUT MAY BE NEEDED BUT HOLD APPROPRIATE NOW

  • STEADY HAND BASED ON INFORMATION CURRENTLY TO HAND

  • APPROPRIATE STANCE SHOULD BE ACCOMMODATIVE GIVEN ECON. VIEW

  • SCOPE TO CUT TO SUPPORT DEMAND, IF NEEDED

  • RATE SENSITIVE SECTORS CONTINUING RESPOND TO LOWER RATES

  • EXCH RATE ON TRADE-WEIGHTED BASIS REMAINED HIGH

  • ASSET PRICES RISING, BUSINESS DEBT MODERATE

  • LENDING RATES CLOSE TO 2009 LOWS, CLEARLY BELOW NORMAL

  • AVG COST FALL TO TAKE TIME TO REFLECT WHOLESALE EASING

  • BANKS DEPOSIT DEMAND TO MODERATE, FOR NOW SPREAD STILL HIGH

  • IRON ORE PRICES HIGH BUT EXPECTED TO BE TEMPORARY



 

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