Highlights from RBA report

21.11.2017 / 02:30

Rating:

Board judged steady policy consistent with inflation, growth goals

"Considerable uncertainty" on how quickly wages might pick up, add to inflation

Pass-through to inflation could be delayed by many factors including retail competition

Competitive pressures on retail margins and costs expected to last for some while

Board discussed global trend of wages growth lagging unemployment

Any further rise in A$ would slow expected pick-up in inflation, economy

Local labour market had been surprisingly strong, above-average jobs growth likely to continue

Rising participation meant jobless rate to fall only slightly to 5.25 pct by end 2019

RBA saw more upside risks to non-mining business investment, infrastructure spending a boost

RBA expected GDP growth of around 3 pct over next few years, subdued productivity

Noted importance of data and "evidence-based policymaking" in lifting productivity

Housing market had eased in all major cities, still relatively strong in Melbourne

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Highlights from RBA report

London

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