• 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

I posted an AUD daily chart earlier, here - looks heavy

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.