RBA content with Aussie economy - UOB

Analysts at UOB Group noted that the minutes from the RBA’s March meeting suggested the Bank was happy with how the economy was rebalancing.

Key Quotes:

"The minutes from the RBA’s March meeting suggested the Bank was happy with how the economy was rebalancing.towards nonmining sectors of the economy, “aided by the low level of interest rates and the depreciation of the exchange rate over the past couple of years, which had responded to the evolving economic outlook”.

Whilst retaining a clear easing bias, the bank sees no immediate need for further easing."