Key minutes
The board will not raise the cash rate until actual inflation stays within the 2-3 percent target range.
Although inflation has risen, the members acknowledged that it was still too early to conclude that it is within the target range.
The Australian economy was resilient, and spending is expected to increase after the omicron epidemic.
As it tracks the evolution of inflation in Australia, the board is willing to wait.
More to follow…
RBA Minutes
Two weeks after the announcement of the interest rates, the Reserve Bank of Australia (RBA) publishes its minutes of its monetary policies meeting. This document contains a detailed record that details the discussions between RBA board members regarding monetary policy and economic conditions which influenced their decision to adjust interest rates or bond buys, which had a significant impact on the AUD. These minutes include information on international economic developments as well as the exchange rate value.
