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- RBA minutes: low wage growth, strong retail competition continue to have "dampening effect" on aggregate inflation
RBA minutes: low wage growth, strong retail competition continue to have "dampening effect" on aggregate inflation
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March qtr inflation increased confidence in forecasts that core inflation would pick up to around 2 pct by early 2018
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Developments in labour and housing markets warrant "careful monitoring"
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Members had in-depth discussion about changes in the composition of employment in recent decades
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Recent data suggests economy expanded at a "moderate pace" in march quarter
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Gdp still expected to pick up to be a little above 3 pct by h1 2018 as drag from mining investment wane, resources exports pick up
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Utilities prices likely to increase in next few qtrs, could see second-round effects on cpi through upward pressure on business costs
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Housing credit growth continue to outpace income rise, suggesting higher risks associated with household balance sheets
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