India, March 4 -- The Reserve Bank of Australia is cautious about lowering the benchmark interest rate further and the decision to cut the rate in February does not mean that the bank is committed to cut again at coming meetings.
"Members observed that not having lifted interest rates as high as in countries that had faced a similar inflation challenge meant the Board should be cautious when deciding to lower the cash rate," the minutes of the meeting held on February 17 and 18 showed.
While economic outcomes had given policymakers more confidence that they could return inflation to target at the same time as preserving most of the gains in the labor market with a lower cash rate, they agreed that this was not yet assured.
"They emphasiz...