The statement compared to last month is more of less word for word. The only really slight differences are that they’ve added “or other adverse event” to their outlook on global rates. “Somewhat firmer” growth is now just “Firmer” growth.
Added was a line that inflation rose due to the decline in the exchange rate last year and they changed “other domestic costs” to cite just slower wage growth “declining noticably” as keeping inflation on target.
They’ve scaled down rhetoric on house prices which has gone from “signs of moderation” to “has been slower”
The final paragraph sums it all up anyway;
“In the Board’s judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent course is likely to be a period of stability in interest rates.”
Steady as you are is the message
And after all that the move in AUD/USD was worth about 25/28 pips. between 0.9315 and 0.9340
