Following are the key headlines from the August RBA monetary policy statement (via Reuters):
To adjust policy if needed to support sustainable growth.
Rates to remain low for an extended period of time.
To monitor developments in labor markets closely.
Outlook for global economy remains reasonable.
Conditions in housing market remains soft.
House prices are stabilising in Sydney and Melbourne.
Australian economy expected to grow at 2.5% in 2019.
AUD is at its lowest level in recent times.
To take longer-than-expected for inflation to reach 2%.
Will ease monetary policy further if needed.