RBA minutes: Inflation outlook provides scope for further easing

FXstreet.com (Barcelona) - Minutes of the Monetary Policy Meeting of the Reserve Bank Board held on June 5 points that the inflation outlook might give further scope to cut rates.

From the RBA: "Inflation outlook as currently assessed might provide some scope for further easing, should that be required to support demand."

On the Australian Dollar, the central bank said the currency remains "noticeably" lower, yet still high relative to export prices. The RBA stated that "it is possible that the Australian dollar will fall further with the drop in terms of trade."

On growth prospect, the RBA thinks "Australia growth will be a bit below trend in the near-term. Housing market improving, with business conditions somewhat subdued."