There were different views on how much more assurance was needed to be confident that inflation was on a sustainable path back to targetSome members felt there was a risk of keeping policy more restrictive than neededGoverning Council was split over when to cut rates
It’s interesting that they’re split as the market also appears to be 50/50 on cutting at the June meeting. Today’s softer reatil sales report probably helped tilt them to a cut but the meeting is still six weeks away with much more data to come.
More:
Felt rapid population increase and coming decline in non-permanent residents complicated outlook for activity and inflationWas more confident that inflation would continue to ease even as growth picked upStill more concerned about upside risks to inflation but viewed both upside and downside as less acute
This article was written by Adam Button at www.forexlive.com.