RBA retains record low interest rate, but trims growth outlook

Low rates supporting economy

Progress on unemployment, inflation expected to be gradual

Central scenario for gdp growth to average around 3 pct this year

Central scenario for gdp growth to slow in 2020 due to weaker resource exports

Inflation remains low and stable

Central scenario for inflation 2 percent in 2019, and 2.25 pct in 2020

Household consumption remains a source of uncertainty

Main domestic uncertainty remains around household spending, effect of falling house prices

Consumption data have been volatile

Growth in household income expected to pick up and support spending

Labour market remains strong

Wage growth to pick up gradually over time

Further fall in unemployment rate to 4.75 pct expected

Gdp growth in september quarter was weaker than expected

Credit conditions for some borrowers are tighter than they have been

Global economy slowed in second half of 2018, downside risks have increased

Seeing some signs of slowdown in global trade, partly stemming from trade tensions

Australian dollar has remained within the narrow range of recent times

Australia's terms of trade have increased, expected to decline over time