RBA's SoMP: Growth outlook trimmed, more optimistic on jobs

FXStreet (Bali) - The RBA’s quarterly Statement on Monetary Policy (SoMP) has been published, with the Central Bank's, trimming its GDP outlook, while lowering the unemployment forecast.

Key headlines - via Reuters

Australia C.bank Says Accommodative Policy Appropriate, Will Continue To Assess Outlook

Past Fall In A$ To Support Economy In Face Of Lower Terms Of Trade

Reasonable Chance A$ To Decline Further Once Fed Raises U.s. Rates

Trims Gdp Forecast To Reflect Slower Population Growth, Seen Rising Above 3 Pct In 2017

Year Average Gdp Seen 2-3 Pct For 2015/16, 2.5-4 Pct For 2016/17

Sees Underlying Inflation 2-3 Pct Out To End 2017, Up From 1.75-2.75 Pct On Lower A$

Recent Data Have Been Generally Positive, But Economy Still Faces Some Headwinds

Lowers Unemployment Forecast, Expects Little Change Over Next 18 Months

Still Slack In Labour Market, But A Little Less Than Previously Expected

Subdued Wages, Slowing Population Growth May Explain Steady Jobless Rate

Assumes Annual Population Growth Of 1.5 Pct, From 1.75 Pct Previously

Outlook For Business Investment Weak, Though Surveys Paint More Positive Picture

Domestic Inflationary Pressures Well Contained, Lower A$ To Lift Tradeable Prices

Home Prices Rising Rapidly In Sydney And Melbourne, But Growth Weak Elsewhere

Risks In Chinese Economy Remain Somewhat Tilted To The Downside