Highlights from RBA rate statement

The following are the highlights of the Reserve Bank of Australia's Interest Statement at its meeting on November 7:
•    Members decided to keep interest rates unchanged at 1.50%.
•    The world economy has improved.
•    The labor market sector witnessed a recovery in many advanced economies.
•    There is still uncertainty about global developments.
•    China's economy has registered significant growth with support from increased spending on infrastructure.
•    There are risks to China's economy of stabilizing debt at high levels.
•    Wage rates remain stable at low levels in many countries globally.
•    Inflation has slowed down from the beginning of this year, mainly due to the decline in world oil prices.
•    GDP is expected to stabilize near 3% over the next few years.
•    All indicators support the gradual growth of the economy in the coming years.
•    Household debt stabilized at high levels.
•    Employment rates continue to grow at a strong pace.
•    The labor market sector has improved with support from high participation rates.
•    Unemployment is expected to decline gradually over the coming years.
•    Inflation rates are stabilizing at low levels but are expected to gradually increase over the coming period.
•    The value of the Australian dollar has risen since the beginning of the second half of the year as the US dollar weakened.
•    The appreciation of the currency is expected to have negative repercussions on the economy.
•    The rise in the exchange rate is expected to lead to a slowdown in economic activity and inflation than is currently expected.
•    Stability of interest at low levels supports economic growth.
•    The current easing monetary policy supports economic growth and rising inflation to the desired proportions.