RBA Minutes Show Pace of Future Easing Will Depend on Data

Australia’s central bank board expects to lower interest rates further over the coming year to meet its policy objectives, with the pace of decline likely to hinge on economic data, minutes of its Aug. 11-12 meeting showed.

The Reserve Bank lowered its key rate to 3.6% two weeks ago — a level it described as “still somewhat restrictive,” according to the minutes of the board meeting released in Sydney on Tuesday.