RBA: Australian dollar remains within range seen in past two years

Following are the key headlines from the December RBA monetary policy statement (via Reuters):

Low rates supporting the economy.

Progress on unemployment, inflation expected to be gradual.

Expect GDP growth to average around 3-1/2 % over two years.

Housing markets have slowed in Sydney, Melbourne.

One continuing source of uncertainty is the outlook for household consumption.

Growth in household income remains low, debt levels are high.

Central scenario for inflation 2.25% in 2019, bit higher in 2020.

Terms of trade have been stronger than earlier expected.

The labour market remains positive, further reduction in unemployment expected.

Pick up in wage growth likely to be gradual.

The Australian dollar remains within the range seen in past two years.