India, July 22 -- Reserve Bank of Australia's policymakers said cutting the interest rate for a third straight time within the gap of four meetings would be inconsistent with the cautious monetary policy stance, the minutes of the July monetary policy meeting showed Tuesday.
"Lowering the cash rate a third time within the space of four meetings would be unlikely to be consistent with the strategy of easing monetary policy in a cautious and gradual manner to achieve the Board's objective," the minutes said.
Majority of members said that it would be prudent to wait for confirmation that inflation would sustainably return to target as forecast before easing policy further.
The observed that the board will receive more information including ...