India, March 18 -- The monetary policy is always data dependent and the link between the central bank's forecast and policy decision is not mechanical, Reserve Bank of Australia Assistant Governor Sarah Hunter said Tuesday.
There are always risks and uncertainties around the central forecast and the baseline pathway is just one of a vast number of possible outcomes, she said at the Australian Financial Review Banking Summit in Sydney. The board is now focused on US policy setting, its impact on the global economy and how it flows through to activity and inflation in Australia, Hunter noted.
Regarding the decision in February, Hunter said the board judged that it was the right time to take some restrictiveness away. However, the board was ...