RBA Minutes: Board reaffirmed that it would not increase the cash rate target until progress is made towards full employment, inflation

• RBA MINUTES: THE BOARD REAFFIRMED THAT IT WOULD NOT INCREASE THE CASH RATE TARGET UNTIL PROGRESS IS MADE TOWARDS FULL EMPLOYMENT, INFLATION
• RBA MINUTES: MEMBERS NOTED THAT THE DOWNTURN HAD NOT BEEN AS SEVERE AS EARLIER EXPECTED AND A RECOVERY WAS UNDER WAY IN MOST OF AUSTRALIA
• RBA MINUTES: BOARD AGREED TO MAINTAIN HIGHLY ACCOMMODATIVE SETTINGS AS LONG AS REQUIRED
•  RBA MINUTES: RECOVERY WAS LIKELY TO BE UNEVEN, WITH THE  COVID-19  OUTBREAK IN VICTORIA HAVING A MAJOR EFFECT ON THE ECONOMY
• RBA MINUTES: WAGE AND PRICE PRESSURES REMAINED SUBDUED AND THIS WAS LIKELY TO CONTINUE FOR SOME TIME

More to come...