RBA minutes: Low rates appropriate for some time yet

FXStreet (Bali) - The RBA minutes offered, as expected, little new insights into the central bank's monetary policy stance, with this month's minutes reiterating most of the content available after the release of the Monetary Policy Statement last week.

Main headlines (Reuters)

Board considered current low rates to be appropriate for some time yet

Expansionary policy setting having expected effects on economy

Demand for labour remained subdued, likely to stay so for some time

Inflation consistent with target, forecast to remain so for next few years

Board noted overall growth in coming quarters likely to be below trend

Saw growth in domestic costs contained due in part to spare capacity in labour market

Forward-looking indicators improving but point to moderate jobs growth in months ahead

Recent data pointed to strong growth in dwelling investment in first half of 2014

Volume of iron ore and coal exports had risen strongly in recent months

Retail sales growth appeared to have moderated somewhat more recently

Pointed to some signs that recent slowing in china could be temporary