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Following are the key headlines from the December RBA monetary policy statement, via Reuters, as presented by Governor Phillip Lowe.

Board prepared to do more if necessary.

Board will keep size of bond purchase program under review.

Globally, the news has been mixed recently.

Addressing high unemployment is a national priority.

Fiscal and monetary support will be required for some time.

Has been positive news on the vaccine front, which should support the recovery of the global economy.

Australia economic recovery is under way and recent data have generally been better than expected.

Recovery is still expected to be uneven and drawn out and it remains dependent on significant policy support.

A further rise in the unemployment rate is still expected.

Employment growth was again strong in October.

Board views addressing the high rate of unemployment as an important national priority.

  • AUD/USD stays directed towards 0.7400 after RBA inaction