Gracing the trade of the Asian session on Tuesday was the release of the minutes of the Reserve Bank of Australia's (RBA) policy meeting for September which has raised interest rates by 50 basis points to 2.35%.
Here are some details on policymakers' views on current policy revealed in the minutes:
All policymakers see the case for a slower rate of interest rate hikes in tandem with rising cash levels.
Australian inflation is at a two-decade high and is expected to rise further in the coming months before peaking later this year.
Policymakers are committed to doing what is necessary to ensure inflation in Australia returns to target over time.
The RBA acknowledges that the path back to target will need to take into account risks to growth and jobs.
The labor market remains strong and continues to show the economy is struggling to meet aggregate demand levels.
The central bank expects to raise interest rates further in the coming months, but not on a set path.
Policymakers debate whether to raise interest rates by 25 basis points or 50 basis points.
Ultimately, the RBA is seen to continue raising interest rates but perhaps at a slower pace.
Even so, analysts still see the central bank going ahead with a 50-basis-point hike at its October meeting, citing testimony from Governor Philip Lowe that suggested continued concerns about inflationary pressures.
