RBA minutes: Developments in the labour and housing markets warrant careful monitoring

The minutes of the June RBA meeting when interest rates were held unchanged at 1.5% have been released.

As the RBA minutes notes: "The Board continued to judge that developments in the labour and housing markets warranted careful monitoring. Taking into account all the available information, including that year-ended growth in output was expected to have slowed in the March quarter, the Board judged that holding the accommodative stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time."

Key headlines 

Discussed how fin stability bears on monpol decisions 

Discussed policy experiences in countries incl sweden, us 

Discused how monpol affect fin stability,infl,jobs,output 

Discussed role of prudential supervision for fin stability 

Imp current strong relationship with apra is maintained 

Headline infl moved up in most countries but core low 

Low income growth, high debt restraining h'hold spend 

Impact of mortgage rate rises yet to have full effect 

Biz conditions up but retail conditions remain difficult 

Consumption cld rise if terms of trade ups h'hold income