• Risk assessment around the inflation forecast was “broadly balanced”

  • The likelihood of economic growth in the next few quarters rising

  • The growth of the Australian dollar may complicate economic growth

  • Commodity prices have increased significantly

  • Upward revision of trade prospects are positive for the economy

  • The expected rate of unemployment decreased, but underemployment is still elevated

  • Some signs of rising wages stabilized, but there is considerable uncertainty about the strength of the labor market

  • Much of the uncertainty surrounding the consumption of households, especially the heavily indebted

  • Housing prices have increased markedly in Sydney and Melbourne

  • Sales of housing and lending slowed

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