The Reserve Bank of Australia (RBA) in its latest monetary policy meeting minutes revealed its members agreed to consider pausing rate hikes and reassess the case for doing so at their April meeting.
The current policy is deemed "appropriate" given the uncertain economic outlook, the Board said, agreeing to monitor several economic indicators including jobs, inflation, retail sales, business surveys, and global developments.
The RBA noted that recent data in Australia has been weaker than expected, adding that the "sluggish growth" appears to have continued into the second quarter. The Board, however, believes it is crucial to avoid relying too much on statistics from a single period.
