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MNI POLICY: The minutes of the Reserve Bank.....>

RBA: MNI POLICY: The minutes of the Reserve Bank of Australia's August board
meeting appeared to lean on the hawkish side, in contrast to the cash rate
statement and the Statement on Monetary Statement where the discussion of risks
appeared to be on the dovish side.
- -Household consumption has been a key element of the RBA's outlook because of
its implications for growth and inflation, and for the first time in a long
time, the RBA said some of the uncertainty around the outlook for consumption
has reduced. Growth in household disposable income due to increase in average
earnings per hour and hours worked, along with recent increase in minimum wages,
future tax cuts and expectations of a further tightening in labor market
conditions had all provided "more comfort" that household income growth would
increase gradually and support consumption outlook, the RBA said.
- For full story see MNI Main Wire at 02:32 BST 08/21, or contact us for full
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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