RBA Minutes to Focus on Stimulus and Housing Concern

The Reserve Bank of Australia held rates on June 1, 2015, at the historic low of 2%. The minutes from that policy meeting will be released on Monday. Governor Glenn Stevens has already said the Australian central bank policy will remain accommodative. Australia’s economy is navigating rough seas with the slowdown in China impacting commodity exports. Low rates are needed to stimulate growth, but have also inflated house prices which remain a concern, especially in the urban areas such as Sydney. It’s unlikely anything in the minutes will come as a surprise, but they will add color to Stevens’s recent remarks on the state of economic affairs Down Under.