Reading through the RBA minutes the big standout for me was the relatively optimistic view on China

James Marlay

Reading through the RBA minutes the big standout for me was the relatively optimistic view on China. Commentary suggests to me that RBA is not concerned about the levels of growth in China and that points of concern focus more on the decline in capital expenditure for mining projects and subdued non mining investment. Iron ore exports remain strong (as does the IO price). I didn't get the impression the RBA is overly concerned about housing prices and that whilst employment conditions remained soft (low wage growth) there was a bias towards keeping rates on hold until more certainty arises around the slight pick up in business and consumer confidence. Full release here (VIEW LINK)


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