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- RBA retains record low interest rate, but trims growth outlook
RBA retains record low interest rate, but trims growth outlook
Low rates supporting economy
Progress on unemployment, inflation expected to be gradual
Central scenario for gdp growth to average around 3 pct this year
Central scenario for gdp growth to slow in 2020 due to weaker resource exports
Inflation remains low and stable
Central scenario for inflation 2 percent in 2019, and 2.25 pct in 2020
Household consumption remains a source of uncertainty
Main domestic uncertainty remains around household spending, effect of falling house prices
Consumption data have been volatile
Growth in household income expected to pick up and support spending
Labour market remains strong
Wage growth to pick up gradually over time
Further fall in unemployment rate to 4.75 pct expected
Gdp growth in september quarter was weaker than expected
Credit conditions for some borrowers are tighter than they have been
Global economy slowed in second half of 2018, downside risks have increased
Seeing some signs of slowdown in global trade, partly stemming from trade tensions
Australian dollar has remained within the narrow range of recent times
Australia's terms of trade have increased, expected to decline over time
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