More:
- Forecast for August meeting didn’t lessen scope to cut rates
- Underlying inflation staying close to low end of range
- Saw Chinese growth unlikely to pick up in coming quarters
- Course of exchange rate wil be important for policy
- Says AUD remains high by historical standards
- Economy growing below trend pace, job growth modest
- near-term prospect for non-resources investment subdued
- Says strong growth in resource exports expected
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I posted an AUD daily chart earlier, here - looks heavy
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ADDED – The minutes are not much of a surprise. The headline I used is the main point – there is a lessening of the easing bias, that is, further rate cuts are not imminent.
