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RBA April minutes show slightly upgraded labor market outlook

Published 04/14/2014, 10:49 PM
Updated 04/14/2014, 10:52 PM
RBA minustes show slight jobs outlook upgrade

Investing.com - The Reserve Bank of Australia slightly upgraded its view on the labor market in assessing monetary policy was appropriately configured to foster growth despite a recently stronger Australian dollar, according to minutes of its April board meeting released on Tuesday.

"Falling mining investment and weak public demand were set to constrain growth for some time (but) there were early promising signs in other parts of the economy," the RBA said in the minutes, adding later that "a range of labor demand suggested a modest improvement in prospects for employment."

The RBA cash rate stands at a record low 2.5% and has stated in recent months the level could stay there for a "period" while at the same time noting the Australian dollar has appreciated "partly in response to domestic economic data."

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