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RBA Minutes: Outlook For Global Economy Is Positive

Members of the Reserve Bank of Australia's Monetary Policy Board said that global economic conditions figure to remain on an upward trend barring any unusual or unexpected events, minutes from the board's May 1 meeting revealed on Tuesday.

Global and domestic inflation remain in line with expectations, the minutes said.

The appreciation of the Australian dollar could slow economic activity, but the board members still believe that the cash rate's next move is more likely to be up, not down.

At the meeting, the RBA maintained its benchmark lending rate at 1.50 percent.

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