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      RBA minutes: Uncertain economic outlook, period of stability for rates

      FXStreet (Bali) - The minutes of the last monetary policy by the Reserve Bank of Australia were just published, with the central bank noting that uncertainties over the economic outlook remain, also adding that the most prudent course likely to be period of stability for rates.

      Main headlines (courtesy of Reuters)

      Most prudent course likely to be period of stability for rates

      Board members noted "significant uncertainties" around growth forecast

      Members felt it important to consider risks to the forecast as well as central case

      A$ remained high by historical standards, offering less support to economy

      Gdp growth likely slowed to moderate pace in q2, seen below trend over 2014/15

      Falling mining investment, fiscal consolidation, high a$ to restrain growth

      Signs of improvement in non-mining investment; resource exports to grow strongly

      Home building likely to stay strong, home price inflation still robust

      Signs of pick in labour demand, but would take some time before unemployment fell

      Notable degree of spare capacity in labour market to keep wages growth subdued

      Inflation pressures expected to ease, keep inflation consistent with target

      Rates on housing, business loans continued to fall; added to noticeable easing in conditions

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