- as expected
- cash rate remains at 2.5%
- says likely to be a period of stability in interest rates
- AUD remains high by historical standards particularly given falling commodity prices
- AUD fall assisting balanced growth but less than before
- sees moderate growth in consumer demand
- sees strong expansion in housing construction
- there has been some moderation in house price growth
- public spending scheduled to be subdued
- monetary policy remains accommodative
- inflation expected to be consistent with 2-3% target
- will be some time yet before unemployment declines consistently
AUDUSD taking it all in its stride, little changed at 0.9260 with the RBA repeating that it sees a likely period of interest-rate stability, a nod to the high value of the AUD and all pretty much as Eamonn forecast in his preview
RBA full statement here
