RBA minutes: Low inflation provides scope to ease further

The minutes of the February RBA meeting when interest rates were held steady at 2%, and in which the Central maintained its soft easing bias, have been released.

The minutes reiterated most of the key themes from recent meetings. In today's minutes, RBA said that "low inflation provides scope for further easing."

Key headlines

Board members saw reasonable prospects for continued economic growth

Appropriate to leave cash rate at an accommodative setting

To watch labour market trends, impact of turbulence in financial markets

Recent data suggested economy growing at moderate pace in q1

Low rates, past fall in a$ helping rebalance economy to non-mining activity

Conditions in housing market had eased, lending for investment had slowed

Labour market had clearly improved, leading indicators consistent with jobs growth

RBA on long-term outlook for china, noted urbanisation to aid growth in working-age population

Low level of foreign currency debt differentiated china from past em crises

China's rising household incomes positive for australian exports over long run