Forex Asia News – RBA policy meeting minutes show a positive outlook for Australia

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The central bank of Australia has announced that it is highly likely that the country will require an interest rate hike to take place at some point in order to be able to manage the pressures felt by increasing prices especially since global inflation risk are becoming more apparent . The release of the minutes from the policy meeting of the Reserve Bank of Australia were portrayed a positive outlook for both the local and global economies despite retaining the interest rates at a 4.75% level for a sixth month straight

The minutes stated that members agreed that the current restrictive stance of monetary policy is appropriate give the current rises in the exchange rates which could have further tighten the economic sector conditions. However if the current economic conditions continued to evolve as speculated, higher interest rates should be required to meet the medium term inflation target.