RBA: Australian economy expected to grow around 3% in medium term

Reuters reports the key headlines from the RBA monetary policy statement:

AUD remains within the range it has been over the past two years on a trade-weighted basis.

Rising AUD would result in a slower economy, inflation.

Australian economy expected to grow around 3 pct in the medium term.

Low level of interest rates continuing to support the Australian economy.

The outlook for non-mining investment has improved.

Public infrastructure investment supporting the economy.

Household consumption is a source of uncertainty.

The labour market continues to strengthen.

Unemployment rate expected to decline gradually.

Wage growth to remain low for some time, pick up gradually.

Nationwide house prices little-changed over past six months.