Reserve Bank weighed refueled property bubble risk before cutting rates, minutes reveal

The Reserve Bank has signaled that further cuts to official interest rates remain a live option despite the risk of refueling a property bubble in Sydney and Melbourne. 

In the minutes from it's October meeting when the cash rate was cut to a record low of 0.75 percent, the RBA board noted that "the housing market and other asset prices might be overly inflated by lower net rest rates". 

ABC's Peter Ryan says there's a 41 percent chances of another rate cut when the RBA board meets on Melbourne Cup day.