- Further monetary policy tightening is expected to be required to bring inflation down.
The Board reiterated that further tightening of the monetary would likely be required given inflation was still too high, the labor market tight and business surveys showed solid activity.
The RBA noted that recent data releases on Gross Domestic Product, jobs, wages and inflation, had come in softer than expected, but the shortfalls to expectations were not large.
The Board said they would be watching upcoming releases on employment, inflation, retail trade and business surveys, as well as the developments in the global economy at the April meeting.
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