A snippet or two from Westpac's take on minutes that were published yesterday
(Post is here ICYMI: RBA February meeting minutes - extended period of low rates required)
WPAC:
- The minutes ... do not provide much further information than we have seen from other communication from the … Bank in recent weeks
- The meeting discussed a further reduction in interest rates because prospects are for only gradual progress towards the Bank's inflation and unemployment goals.
- … risks were around encouraging additional borrowing in the housing market.
WPAC conclude it may take the RBA more time to conclude a cut is needed than WPAC's forecast for an April cut.
