Minutes from September 5 RBA monetary policy meeting;

  • -Solid employment growth, domestic data positive
  • -AUD$ rise in large part reflect USD decline
  • -Need to balance risks of high household debt and low CPI
  • -Recent domestic data consistent with gradual pickup in growth
  • -Further rise in AUD$ would weigh on growth and inflation


Overall positive tone on its economic assessment but not satisfied with slow inflation and didn’t forget to add usual comment against further currency appreciation.

AUD$ trading rather choppy went 90 paid then 70 given after the release.

Australia Q2 house price index was out at the same time +1.9% vs 1.1% forecast.