RBA minutes: Stability in rates, A$ above most fundamental estimates

FXStreet (Bali) - The RBA has published the minutes from the Sept 2 policy decision, reiterating that for now, the most prudent course is likely to be a period of stability for rates, also noting that policy must take into account risk of further large build-up in home prices.

Main headlines (Reuters)

Most prudent course likely to be a period of stability for rates

Policy must take into account risk of further large build-up in home prices

Members observed additional speculative demand could amplify property price cycle

Members noted there had not been a general easing in mortgage lending standards to date

Members judged current policy stance contributing to sustainable growth

A$ remained above most estimates of its fundamental value

Iron ore prices had declined noticeably over the past month

Signs of pick up in labour demand, but some time before jobless rate declined consistently

Mining investment little changed in q2 but should fall significantly over the next year

Degree of spare capacity in labour market apparent in the slow growth of wages

Recent chinese data consistent with official gdp target of 7.5 pct

Conditions in china's residential property market remain a risk to outlook for china