Summary of Reserve Bank Minutes June 2013

Summary of Reserve Bank Minutes June 2013

The Reserve Bank (RBA) minutes indicate that the Board members are feeling comfortable about keeping interest rates on hold but clearly are in a position to cut rates further if necessary.

The appetite for borrowing in the household sector appears to be picking up and the housing market is on the improve as previous rate cuts have slowly worked their way through the economy.

One area of concern is the lack of activity in the non-mining business and it is clear that if interest rates were to change it would be in a downward direction. 

We, along with several economists are tipping another rate cut in August 2013

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By Darryl Simms

View RBA Minutes Here