- Downside risks for global economy abated
- Chinese growth stabilized at fairly robust pace
- Commodity prices have firmed
- Growth likely below trend for coming year
- Inflation likely to be consistent with target
- inflation allows further easing if necessary
- take time to see full impact of 2012 easings
- A$ remains higher than expected
- RBA sees more scope for other ares of demand to strengthen
The statement is more dovish than the market expected.
Full: Statement by Glenn Stevens, Governor: Monetary Policy Decision