\n\tBy Greg Peel<\/p>\n
\n\tI'm not going to say anything, just offer these monetary policy conclusions from past RBA statements and minutes, and from today's May minutes. The emphasis is mine:<\/p>\n
\n\tSeptember, 2010:<\/p>\n
\n\t“With the economy currently growing at around its trend rate, underlying inflation having moderated and lending rates at around average levels, the Board's assessment was that the current setting of monetary policy remained appropriate <\/u>for the time being.”<\/p>\n
\n\tOctober 2010:<\/p>\n
\t“The current stance of monetary policy is delivering interest rates to borrowers close to their average of the past decade. The Board regards this as appropriate for the time being. If economic conditions evolve as the Board currently expects, it is likely that higher interest rates will be required, at some point<\/u>, to ensure that inflation remains consistent with the medium-term target.”<\/p>\n
\n\tNovember 2010:<\/p>\n
\n\tRate rise.<\/p>\n
\n\tApril 2011:<\/p>\n
\n\tAt today's meeting, the Board judged that the current mildly restrictive stance of monetary policy remained appropriate <\/u>in view of the general macroeconomic outlook.<\/p>\n
\n\tMay 2011:<\/p>\n
\n\tIn this respect, members judged that if economic conditions continued to evolve as expected, higher interest rates were likely to be required at some point <\/u>if inflation was to remain consistent with the medium-term target.<\/p>\n
\n\tJune 2011:<\/p>\n
\n\tRate rise?<\/p>\n","protected":false},"excerpt":{"rendered":"
Forget the data and follow the history of RBA language. It now points to a rate rise next month.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[21],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58155"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=58155"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58155\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=58155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=58155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=58155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}