Low inflation and tighter credit gave room for cut, RBA minutes show
Inflation looks likely to remain low for some time, board members note
Inflation remains low in Australia as in many advanced economies and, coupled with tighter lending standards, gave room for members to vote for a rate cut, minutes of the Reserve Bank of Australia's (RBA) August meeting show.
Published today (August 16), the minutes show members observing tighter lending standards had fed through into an easing in housing price pressures and lower housing credit growth. "This suggested that the risks associated with rising household sector leverage and rapid
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