Reserve Bank of Australia policymakers discussed only two options for its interest rate decision in February, either a quarter point or a half percentage point hike, completely abandoning the option of leaving rates unchanged as there was a risk that inflation could persist at an uncomfortably high level, minutes of the session held on February 7, revealed Tuesday.
Arguments favoring a 50 basis point increase stemmed from the concern that prices and wages data are exceeding expectations and there is a risk that high inflation would be persistent.
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by Renju Jaya
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