Low household income growth, high debt posed risks to outlook for consumption

Wage growth to remain low for some time, noted isolated reports of higher pay deals

House prices rising briskly in some markets, tentative signs pressure starting to ease

Members noted would take time for tighter bank lending standards to impact housing market

Important to maintain close cooperation with other regulators, especially APRA

Discussed how financial stability affected monetary policy, reviewed experience in U.S. and Sweden

Recent faster pace of jobs growth to continue, but underemployment still high

Repeats a rising AUD would complicate economic adjustment