The Reserve Bank of Australia (RBA) has released earlier today the meeting-minutes results which were anticipated, and directly after the minutes' results were announced the Australian dollar rose.
Also, the RBA's minutes stated that the escalating European dept crisis is negatively affecting the nation's growth as a result for its negative impact on the global growth, also stated that November 1st modest easing is suitable according to the global risks and announced that the recent economic data is little more positive.
Regarding this, the RBA declared that the nation's GDP is close to target over the next 1-2 years, while it declared that the overall of the Australian credit growth is remained low and the inflation rates remains at the targeted levels within 2%-3% and as a result the interest rate will remain unchanged at 4.50%.
Additionally, the RBA also announced that housing sector and the business credit growth both are still unresponsive, yet it stated that the investment and the trade levels are expanding.
Finally, the RBA saw that the inflation levels are behind the modest growth of the Chinese economy.