RBA Minutes out now: Further fall in Australian dollar needed for economy

RBA Minutes out now:
Further fall in Australian dollar needed for economy
Prudent course likely to be period of rate stability
Board noted that market expected easing next year, discussed factors behind those market expectations
AUD still above estimates of fundamental value
GDP growth to be below trend over 2015
Subdued labour market likely to weigh on consumption growth
Inflation outlook consistent with target
Forward indicators consistent with relatively moderate jobs growth
Headlines via Reuters
Full text: Minutes of December 2014 Monetary Policy Meeting of the Reserve Bank Board

The Minutes of the December meeting.
They’ve been rendered a little less important this month given the governor’s interview in Australian Financial Review: RBA’s Stevens says AUD should be closer to 0.7500

One thing that sticks out and should be noted from reading between the lines. there will be no February rate cut.

 

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