RBA board still expected growth to accelerate to 3 pct over time, despite soft Q1 - Minutes

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20 June 2017

RBA board still expected growth to accelerate to 3 pct over time, despite soft Q1 - Minutes

Low household income growth, high debt posed risks to outlook for consumption
Wage growth to remain low for some time, noted isolated reports of higher pay deals
House prices rising briskly in some markets, tentative signs pressure starting to ease
Members noted would take time for tighter bank lending standards to impact housing market
Important to maintain close cooperation with other regulators, especially APRA
Discussed how financial stability affected monetary policy, reviewed experience in U.S. and Sweden
Recent faster pace of jobs growth to continue, but underemployment still high
Repeats a rising AUD would complicate economic adjustment

Fed's Evans says he sees it worth to wait until year-end to assess another rate hike

U.S. 10-year treasury yield at 2.186 pct vs U.S. close of 2.188 pct on Monday

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