SYDNEY, Oct 14 (Reuters) – Australia’s central bank saw no need for an immediate cut in interest rates at its September policy meeting given some stickiness in services inflation and steady employment, while future easing would be data dependent.

Minutes of the meeting released on Tuesday, showed the Reserve Bank of Australia board would be focused on readings for inflation and consumption in the third quarter when it next meets on November 4.

The board decided to hold the cash rate at 3.60%, following three quarter-point cuts so far this year, and judged there were still risks to the upside and downside for the economy.

“There was no need for an immediate reduction in the cash rate target,” they concluded. “Looking ahead, members noted that it was appropriate for the Board’s decisions

See Full Page