RBA: GDP growth revised up a little in 2018, 2019

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

Low rates supporting the economy.

Progress on unemployment, inflation expected to be gradual.

Housing markets have slowed in Sydney, Melbourne.

Credit conditions tighter than they have been for some time.

GDP growth revised up a little in 2018, 2019.

AUD remains in range of past couple of years.

GDP to average 3.5 pct in 2018, 2019 before slowing in 2020.

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

Business conditions are positive.

Public infrastructure investment supporting economy.

Household consumption a source of uncertainty.

Outlook for labour market remains positive.

Wage growth remains low, expect further lift over time.

 Further gradual decline in unemployment expected to 4.75 percent in 2020.