lower rates might be appropriate if unemployment rises, inflation stalls

probabilities on next rate move "appear to be more evenly balanced"

there are scenarios where the next move in rates is up, others where it is down

board does not see strong case for a near-term change in cash rate

will be monitoring developments in labour market closely

if jobs and wages rising, will be appropriate to raise cash rate at some stage

lower rates might be appropriate if unemployment rises, inflation stalls

in position to maintain current policy while assessing shifts in global economy, household spending

downside risks to domestic economy have increased

household consumption expected to grow around 2.75 pct over next couple of years

still expect economy to grow at reasonable pace over next couple of years

sees economy expanding by around 3 pct in 2019, 2.75 pct over 2020

expects Q4 GDP to be stronger than surprisingly soft Q3 outcome

unemployment declining to around 4.75 pct over the next two years

underlying inflation to rise to about 2 pct later this year, 2.25 pct by end of 2020