RBA says rising AUD would lead to slower econmic growth than otherwise

Judged steady policy consistent with growth, inflation targets

Global economy continuing to improve

Growth expected to pick up gradually over the coming years

House prices rising briskly in some markets

Higher AUD is restraining price pressures

Expects gradual increase in underlying inflation

Housing debt has outpaced slow growth in incomes

Some signs housing market starting to cool

Drag following mining investment boom almost complete