RBA minutes note ‘fragile’ global picture

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Minutes from the latest Reserve Bank of Australia (RBA) board's monetary policy meeting noted that although global economic conditions outside of Europe appeared to have stabilised somewhat, sentiment remained "fragile".

Domestically, the board said growth in consumer spending had eased in the December quarter, and recent indicators suggested consumption growth was "a little below trend" in early 2012. Nevertheless, the board said inflation was "likely to remain in the lower half of the target

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