RBA minutes: Steady rates appropriate, outlook data-dependent

FXStreet (Bali) - The minutes of the June RBA meeting when interest rates were held steady at 2%, and in which the Central failed to provide an explicit easing bias, have been released.

The Central Bank notes that "leaving the cash rate unchanged was appropriate", adding that "information to be received over the period ahead on economic and financial conditions would continue to inform the Board's assessment of the outlook and hence whether the current stance of policy remained appropriate to foster sustainable growth and inflation consistent with the target."

Key headlines - via Reuters

Steady policy appropriate given current and prospective conditions

Would review coming data to judge if rates remain appropriate

Further fall in a$ likely, necessary to provide assistance to economy

Employment growth, slowdown in population helped keep jobless rate stable

ABS vacancies data suggested jobless rate to stay steady or even decline

Still spare capacity in labour market, will keep inflation well contained

Data suggest strength in Q1 GDP had not carried through to q2

Non-mining investment subdued, but surveys of business conditions showed a pick up

House price growth confined to Sydney and Melbourne, apartment prices restrained

High house prices hard for first time buyers, but boosts wealth of owners

Events in Greece and china would bear close watching

Easing in china policies would support activity, improvement in property sector