Subject: Minutes of the Monetary Policy Board Meeting

⚡️ Highlights:

1. Inflation has continued to decline gradually, and the labor market is tighter than expected, with a large fall in employment in February considered a statistical aberration.

2. Domestic financial conditions are still somewhat restrictive, and uncertainty about global trade policy has increased significantly, although the impact on Australia's economy is not yet clear.

3. Risks to the economic outlook are two-sided, with some factors potentially leading to weaker economic activity and inflation, while others could strengthen economic activity and inflation.

4. The Board decided to maintain the cash rate target at its current level, as there was not enough information to significantly alter the central outlook for the Australian economy. Future decisions will depend on new information and its implications for the economic outlook.

5. The Board's monetary policy strategy aims to bring inflation back to the midpoint of the target band while maintaining gains in employment. Future decisions will be guided by incoming information and assessment of risks, with the highest priority being the sustainable return of inflation to target.

✍️ Reserve Bank of Australia | Full Article

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