RBA Meeting Minutes

The RBA Meeting Minutes have moved the AUD/USD pair lower by ~ 20 pips as the market remains in a tight range to start the new trading day, early in the Asian session. The details of the minutes are as follows:

• Global growth at ‘reasonable pace' is the most likely result.
• "Appropriate for rates to gradually move to normal.
• Australia growth may now be ‘at or close to trend.'
• March Minutes show the RBA is ready to respond to other outcomes.
• Mining industry to provide 'significant' growth boost.
• Europe debt concerns unlikely to impact global growth.
• Europe remains ‘weakest area' in global economy.
• March increase a ‘timely' step toward normal rates.
• Main risk from Greek debt problems is contagion.
• Recent economic figures ‘quite firm.'
• Established home market is very ‘buoyant.'
• Underlying inflation falling further in near term.
• Discussed sovereign risk issues associated with Greece.
• Policy decision based on ‘most likely' outcome.'