For those who want a little more reading on the minutes (link to the full minutes at this post):
“Interest rate sensitive parts of the economy had shown some signs of responding to these lower rates, which were well below their longer-run averages, and further effects could be expected over time,” minutes of the Feb. 5 meeting released today in Sydney showed. The inflation outlook “would afford scope to ease policy further, should that be necessary to support demand,” it said.
RBA Saw Signs Lower Rates Are Working, Retains Scope to Ease
And more from Reuters:
Australia’s central bank saw scope to cut interest rates further if needed, but felt it prudent to hold steady at its February meeting given parts of the economy were already responding to lower borrowing costs.
Australia central bank saw scope to ease if needed, policy already loose – minutes