Exports declined more than expected in q3, but latest trade data support expectation export growth will resume

Despite rising employment and participation rates, other indicators show ongoing labor market slack, though it is diminishing

Global outlook subject to "considerable" uncertainty including geopolitical developments, trade policies

Housing has continued to moderate as expected

Revised higher level of past gdp unlikely to have significant implications for output gap because revisions imply higher level of potential output

Core inflation has edged up in recent months, reflecting continued absorption of economic slack

Inflation has been slightly higher than anticipated, will continue to be boosted by temporary factors in short term