Cash rate unchanged at 1.5%. Every analyst surveyed expected this.

  • Rising AUD could complicate economic transition
  • Says judged steady policy consistent with growth and inflation targets
  • Says global economy growing at lower than average pace
  • Says Chinese economy has steadied
  • Large supply of apartments to come on stream in next couple of years
  • RBA says home prices rising briskly in some markets
  • Global outlook for inflation more balanced than "for some time"
  • Commodity prices have risen, supporting rise in terms of trade
  • Expects a slower annual growth rate before a pick up

(better stay tuned tomorrow for that, then)

  • Economic conditions in China supported by growth in infrastructure and property construction but medium-term risks remain
  • Labour market conditions in advanced economies improved over past year
  • Inflation is expected to remain low for some time

Quick headlines via Reuters (smart ass comment in the middle is mine ... ;-) )

Nothing surprising there from the RBA - AUD barely changed. (NZD took a tumble prior to the RBA announcement though).

Mmmm, actually maybe the only thing that is surprising is the RBA is looking through recent weak data, they look a little too sanguine to me. A pick up is coming they say. I hope they are correct, but will await the data and indicators.

No doubt the RBA will be paying heed to the incoming data and will let us know more ... On February 7! (Their next meeting date - its off on holidays now 'til then. ).

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Full text of the accompanying statement: Statement by Philip Lowe, Governor: Monetary Policy Decision