RBA minutes: board agreed there was not a strong case for near-term move in policy

Market news

15 May 2018

RBA minutes: board agreed there was not a strong case for near-term move in policy

Progress on unemployment and inflation likely to be only gradual
Given current circumstances, board agreed next move in rates likely to be up, rather than down
March qtr inflation data in-line with bank's expectations
Inflation to remain low for some time given retail competition, slow wage growth

RBA: an appreciation in the AUD would slow expected acceleration in growth, inflation

U.S. 10-year treasury yield at 3.0208 pct vs U.S. close of 2.995 pct on monday

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