By Greg Peel
The Dow rose 53 points, or 0.3%, while the S&P gained 0.7% to 1530 (another new 5-year high) and the Nasdaq added 0.7%.
The following is the salient paragraph from the statement issued by the RBA from the February monetary policy meeting, a statement which sent the Aussie lower and heightened money market expectations of a rate cut in March:
"The inflation outlook, as assessed at present, would afford scope to ease policy further, should that be necessary to support demand. At today's meeting, taking into account the flow of recent information and noting that there had been a substantial easing of policy as a result of previous decisions, the Board judged that it was prudent to leave the cash rate unchanged. The Board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the target over time."
This is the salient paragraph from the minutes of that meeting, released yesterday, which sent the Aussie higher and eased expectations of a rate cut in March:
"The inflation outlook, as assessed at this meeting, would afford scope to ease policy further, should that be necessary to support demand. Noting that monetary policy was already accommodative as a result of the substantial easing of policy over the past 15