RBA: No Strong Case For Near-Term Rate Move: Mon Pol Statement

--If Jobs, Infla Develop As Expected, Rate Hike Appropriate At Some Point

     SYDNEY (MNI) - The Reserve Bank of Australia does not see a strong case for

a near-term adjustment in its official cash rate, although higher rates will be

appropriate at some point if employment and inflation prospects develop as

expected, the Quarterly Monetary Policy Statement said.

     Down the line, inflation is expected to increase gradually from its current

level and wage growth is expected to pick up as the labour market tightens --

although the RBA Board acknowledged the current slow pick-up in wage growth.

     The RBA continues to point to global trade protectionism issues as a risk

to growth, although overall the global economic outlook remains positive.

     More

     The link to the RBA's Monetary Policy Statement is here:

https://goo.gl/REtxLo

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