Minutes of the Reserve Bank of Australia's monetary policy meeting earlier in the month.
On the currency says:
- board concluded ending RBA bond buying would put "significant" upward pressure on AUD
- AUD 'noticeably lower than it would have been without the November stimulus package
More, Headlines via Reuters:
- cash rate to be kept at 10 bps as long as is necessary
- will not raise cash rate until inflation sustainably in 2-3% target band
- does not expect to reach targets for unemployment, inflation until 2024 at the earliest
- sustained period of labour market tightness needed to lift wage growth, inflation
- liaison suggested it will be some time before wage freezes to end, public sector pay also restrained
- board noted RBA balance sheet to GDP still lower than most other advanced economies
- benefits from low rates outweighed risks from more leverage, rising house prices
- few signs of deterioration in home lending standards, would be monitored closely
Full text:
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Scanning through the Minutes it does appear there are the beginnings of a discussion about the trade-off between low rates and asset price risk