RBA minutes reveal hawkish outlook after rate hold
Members considered hike during last meeting, MPC says
The Reserve Bank of Australia (RBA) considered raising its policy rate during the most recent meeting before deciding to hold, its latest minutes reveal.
Members of the monetary policy committee (MPC) said disinflation had been slow and that there was an increased risk of inflation not returning to target within a “reasonable timeframe”. Inflation rose from 3.6% in the first quarter to 3.8% in Q2, away from the bank’s target range of 2–3%.
“Underlying inflation was proving persistent and the
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