RBA: Need To adjust policy to support sustainable growth

Below are some of the key points from the latest RBA monetary policy statement

Will monitor developments in labour markets closely.

Need To adjust policy to support sustainable growth.

Took the decision to support employment growth & provide greater confidence in inflation.

Needs faster progress in reducing unemployment.

The economy can sustain a lower rate of unemployment.

Conditions in the housing market to remain soft.

Main domestic uncertainty continues to be household consumption.

Employment growth continues to be strong.

Little inroads in spare capacity in labour market of late.

Signs that house prices are stabilising in Sydney and Melbourne.

Central scenario for underlying inflation to be 2% in 2020.

A$ at the lower end of a narrow range.

Outlook for the global economy remains reasonable.

Downside risks from trade disputes affecting business investment globally.