The Reserve Bank of Australia (RBA) released its quarterly monetary policy statement on Friday:

• Australian gross domestic product is expected to grow below trend until mid-2015;
  
• "The very accommodative monetary policy settings will continue to provide support to demand and help growth to strengthen, in time";
  
• The Australian dollar remains high by historical standards despite the recent declines;
  
• "A gradual strengthening of economic growth should, in time, lead to stronger growth of employment;
  
• Inflation is expected to be within the RBA's 2-3% target over the next two years.