MNI: RBA Minutes Point To Next Rate Move Up, But Not Yet: Text

--RBA Repeat Sees No Strong Case For Near-Term Rtae Adjustment

     SYDNEY (MNI) - The Reserve Bank of Australia again stressed the next move

in interest rates is likely to be higher, although there is no strong case for

adjusting monetary policy in the near term, the minutes of the December 4 policy

meeting show.

     Rather, members assessed that it would be appropriate to hold the cash rate

steady and for the Bank to be a source of stability and confidence while this

progress unfolds, adding that "holding the stance of monetary policy unchanged

at this meeting would be consistent with sustainable growth in the economy and

achieving the inflation target over time."

     The RBA also noted continued risks to global growth linked to the ongoing

trade disputes, seeing a slowdown in some areas of the Chinese economy. They

again noted the continuing slowdown in the Sydney and Melbourne housing markets.

     The full text of the December 4 meeting minutes can be found here:

goo.gl/S6PGkt

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

[TOPICS: MMLRB$,M$A$$$,M$L$$$]