RBA Minutes: Upbeat outlook for the global economy remained - TDS

Analysts at TDS note that the RBA Minutes for the February Board meeting shed little new light. 

Key Quotes

“The upbeat outlook for the global economy remained, where “Stronger growth had contributed to higher inflationary pressures, including higher commodity prices, which had implications for the future stance of monetary policy in the advanced economies”. Domestically, “Labour cost pressures were expected to build gradually from their current low levels as spare capacity diminished and the effect of heightened competitive pressures on retail prices eased”. Overall, the RBA is in no mood to cut further.”