RBA minutes: A further increase of inflation was expected

The minutes of the Reserve Bank of Australia are being drip-fed through the wires adding more colour surrounding the Board’s views and are so far supporting AUD/USD that was already correcting an hourly bearish impulse.

RBA minutes

Inflation had picked up and a further increase was expected.
Measures of underlying inflation in the March quarter are expected to be above 3%.

More to come...

About the RBA minutes

The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.