Hmm, absolutely no mention of being ready to lower the rate again if needed. First time in a while that particular phrase has been missing from the end of the statement.
Statement by Glenn Stevens, Governor: Monetary Policy Decision
At its meeting today, the Board decided to leave the cash rate unchanged at 1.75 per cent. The global economy is continuing to grow, at a lower than average pace. Several advanced economies have recorded improved conditions over the past year, but conditions have become more difficult for a number of emerging market economies. China's growth rate moderated further in the first part of the year, though recent actions by Chinese policymakers are supporting the near-term outlook. Commodity prices are above recent lows, but this follows very substantial declines over the past couple of years. Australia's terms of trade ... (full story)