Following are the highlights of the Reserve Bank of Australia's December meeting:
- A rise in the value of the Australian dollar may negatively affect inflation expectations and economic growth.
- The Australian Reserve kept the current monetary policy in line with the situation.
- Recent data reflect increased confidence as unemployment slows and inflation rises.
- There is a state of uncertainty arising from the strong pace of growth driven by wages and inflation.
- Personal consumption projections are one of the risks facing the economy due to rising household debt and slowing income growth.
- Risks in the household budget have declined, but they are still being monitored carefully.
- Members see that the value of the Australian dollar remains within the range it has been trading for two and a half years.
- Wage growth was slower than expected in the third quarter.
- Key indicators indicated that employment growth continued to grow above the average.
- The positive outlook for improved non-mining investment has contributed to supporting infrastructure spending.
- Infrastructure spending is expected to continue over the next three years.
- Housing prices have fallen significantly, particularly in Sydney.
- Members discussed the global phenomenon of low unemployment and slow wage growth.
- Members stressed that all benefit from the strength of demand for labor.
