Members commenced their discussion of the global economy by noting that new information had been somewhat limited over the preceding month because of the government shutdown in the United States and the Lunar New Year holiday period across Asia. The global economy had grown above trend in 2018, although it had slowed in the second half of the year and the more recent data that had been received had been consistent with a continuation of slower global growth in the fourth quarter of 2018 and early 2019, particularly in the euro area and parts of Asia. Notwithstanding the slower growth in output, labour markets in the ... (full story)

• Saw scenarios where might be appropriate to eventually raise rates, or cut rates; • Scenarios more evenly balanced than they had been last year; • Board agreed no strong case for near-term move in rates; • Awaiting new information to resolve tension between solid jobs market, soft gdp; • Labour market continued to improve, unemployment seen falling to 4.75 pct; • Slower consumption in nsw linked to drop in home prices, lower turnover in housing market; • Slowdown in home loans mainly due to softer demand, but tighter credit played a part; • Saw risk of "Marked slowing" in dwelling investment in one to two year's ... (full story)