RBA minutes: Risks around inflation forecast 'broadly balanced'

The minutes of the November RBA meeting when interest rates were held unchanged at 1.75% have been released.

As the RBA minutes notes: "Taking account of the available information, and having eased monetary policy at its May and August meetings, the Board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time."

Headlines via Reuters

Overall assessment was risks around inflation forecast were "broadly balanced"

Underlying inflation expected to return to normal levels over time

Economy seen growing close to potential next few quarters, before picking up further

Repeats a rising A$ could complicate the economic transition

Holding policy steady at this meeting consistent with growth, inflation goals

Members noted bulk commodity prices had increased significantly

Upward revision to terms of trade outlook was a "marked change", positive for economy

Expected jobless rate to edge down, but underemployment still elevated