Reserve Bank of Australia minutes, bolding mine:
- Judged steady rates consistent with growth and inflation targets
- RBA board judged labour and housing markets "warranted careful monitoring" in coming months
- Labour market somewhat weaker than expected, keeping wage growth low
- Household consumption growth little weaker than expected in early 2017
- CPI expected to pick up above 2 pct in 2017, core inflation to rise more slowly
- RBA minutes repeats a rising in A$ would complicate economic adjustment
- GDP likely expanded at moderate pace in Q1, impact of cyclone Debbie unlikely to be large
- Commodity prices to boost national income in Q1, but terms of trade to decline from here
- RBA minutes saw rising risks in household debt, housing markets
- Tighter regulations to reinforce prudent lending, curb interest-only loans
- Would take some time to assess effects of new rules, ready to do more if needed
- Recent data provide more confidence that global growth accelerating broadly
- Chinese economy appeared to have strengthened; protectionist policies in US still a risk
Headlines via Reuters
If you've been on top of developments with the RBA views none of the above will be much of a surprise at all ... concerns on jobs market, consumption, housing prices .... and of course debt levels ...
A bit more sanguine on global economic growth, China ... and a warning on US protectionism (if it comes)
The Australian dollar comment is simply rinse and repeat
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