As it was anticipated RBA Meeting Minutes did not bring anything new, especially since three days after November 4 meeting RBA released its quarterly Monetary Policy Statement. It was once again emphasized that "very low interest rates continued to support activity in the housing market and this was expected to spur activity in other areas of the economy through the usual channels. Members noted that growth in housing credit extended to investors in housing had continued to grow at a noticeably faster rate than credit to owner-occupiers." As for exchange rates it was noted that "despite the recent depreciation of the exchange rate, the Australian dollar remained above most estimates of its fundamental value, particularly given the further declines in key commodity prices over the course of the year to date. As a result, the exchange rate was offering less assistance than would normally be expected in achieving balanced growth in the economy. " "In their assessment and given the information available, the Board judged that the current accommodative stance of monetary policy continued to be appropriate to foster sustainable growth in demand and inflation outcomes consistent with the target over the period ahead. Members considered that the most prudent course was likely to be a period of stability in interest rates ", it was concluded in their outlook on monetary policy. After Minutes were released Aussie edged slightly higher and is currently being traded few points above 0.8720 level. Later today, RBA Governor Stevens is due to speak at the Committee for Economic Development of Australia's Annual Dinner, in Melbourne. As it was anticipated RBA Meeting Minutes did not bring anything new, especially since three days after November 4 meeting RBA released its quarterly Monetary Policy Statement. It was once again emphasized that "very low interest rates continued to support activity in the housing market and this was expected to spur activity in other areas of the economy through the usual channels. Members noted that growth in housing credit extended to investors in housing had continued to grow at a noticeably faster rate than credit to owner-occupiers." As for exchange rates it was noted that "despite the recent depreciation of the exchange rate, the Australian dollar remained above most estimates of its fundamental value, particularly given the further declines in key commodity prices over the course of the year to date. As a result, the exchange rate was offering less assistance than would normally be expected in achieving balanced growth in the economy. " "In their assessment and given the information available, the Board judged that the current accommodative stance of monetary policy continued to be appropriate to foster sustainable growth in demand and inflation outcomes consistent with the target over the period ahead. Members considered that the most prudent course was likely to be a period of stability in interest rates ", it was concluded in their outlook on monetary policy. After Minutes were released Aussie edged slightly higher and is currently being traded few points above 0.8720 level. Later today, RBA Governor Stevens is due to speak at the Committee for Economic Development of Australia's Annual Dinner, in Melbourne. As it was anticipated RBA Meeting Minutes did not bring anything new, especially since three days after November 4 meeting RBA released its quarterly Monetary Policy Statement. It was once again emphasized that "very low interest rates continued to support activity in the housing market and this was expected to spur activity in other areas of the economy through the usual channels. Members noted that growth in housing credit extended to investors in housing had continued to grow at a noticeably faster rate than credit to owner-occupiers." As for exchange rates it was noted that "despite the recent depreciation of the exchange rate, the Australian dollar remained above most estimates of its fundamental value, particularly given the further declines in key commodity prices over the course of the year to date. As a result, the exchange rate was offering less assistance than would normally be expected in achieving balanced growth in the economy. " "In their assessment and given the information available, the Board judged that the current accommodative stance of monetary policy continued to be appropriate to foster sustainable growth in demand and inflation outcomes consistent with the target over the period ahead. Members considered that the most prudent course was likely to be a period of stability in interest rates ", it was concluded in their outlook on monetary policy. After Minutes were released Aussie edged slightly higher and is currently being traded few points above 0.8720 level. Later today, RBA Governor Stevens is due to speak at the Committee for Economic Development of Australia's Annual Dinner, in Melbourne.