✅ RBA board sees no strong case for near-term rate move
✅ Says next rate move likely to be up if economy evolves as expected
✅ Timing of move depends on unemployment, inflation moving to middle of target range
✅ Says natural for rates to eventually return to more “normal” levels
✅ Financial risks moving in right direction as house prices, borrowing eases
✅ Wages picking up in pockets of labour market, broader rise will be gradual
✅ Says expects inflation to rise close to 2.5 pct in 2020
✅ Unemployment to reach 5 pct over next few years
✅ Says 5 pct is conventional estimate of full employment, but could go lower
✅ Latest data consistent with forecasts for economic growth bit above 3 pct in 2018/2019
✅ Says Australia’s demographic profile more positive than of many other countries
✅ Higher migration has led to faster population growth than in other advanced economies
✅ Migration one reason economy has experienced higher average growth
✅ Migrants tend to be younger, changing our demographic profile in a positive way
