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  • Minutes of the Monetary Policy Meeting of the Reserve Bank Board

    From rba.gov.au

    Members began their discussion of the domestic economy by noting that the December quarter national accounts would be released the day after the meeting. Based on the data available and in line with earlier expectations, growth appeared to have been slightly below average in the December quarter and over 2015 as a whole. There had been further indications of a rebalancing of activity towards the non-mining sectors of the economy. More recent data had suggested that the economy had continued to grow at a moderate pace in early 2016. As expected, mining investment had fallen further in the December quarter as more ... (full story)

What amazes me here is that RBA are talking about non mining sectors yet the market is talking about commodity prices.
The currency is moving on commodities not non mining sectors
So what is this new coined non mining economy?
So far I see bank lending being curtailed, redundancies in the finance sector, property investment falling.
It seems to me that this rebalancing of the economy is one big myth and the non mining sector isn't anything new.
They have just taken out the mining sector to make things look better and now those things left aren't looking good at all.
Quoting lasty
They have just taken out the mining sector to make things look better and now those things left aren't looking good at all.
Nicely said mate...
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the usual jawboning.means nothing.
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