Aussie Fell on RBA Minutes - 17.4.2012

The Reserve Bank of Australia released today its minutes of the latest policy meeting hold on April 3, which showed that policy makers are ready to ease monetary policy if inflation outlook is lowered. “Members had lowered their assessment of the pace of growth somewhat” that could “result in a more moderate inflation outcome, then a case could be made for further easing of monetary policy” the minutes said. At the next meeting in May the central bank is expected to review inflation outlook “based on comprehensive new data”. In the last quarter of 2011 consumer prices were unchanged, after rising by 0.6% in the third quarter, while the annual CPI growth pace has slowed from 3.5% to 3.1%. In April the Bank kept the benchmark interest rate at 4.25%. The aussie extended two-day losses against the greenback and dropped in Asian trading hours from 1.0365 to 1.0304.