Reserve Bank of Australia (RBA) Governor Philip Lowe reiterated that further monetary easing could be required.
"The Board is prepared to ease monetary policy further if needed to support growth, employment, inflation goals. It's likely an extended period of low interest rates will be required in Australia."
"Global uncertainties, weak household consumption, record drought contributing to Australia growth slowdown."
"Expecting a modest pick-up in economic growth in the quarters ahead led by low rates, tax cuts, weaker AUD, government spending."
"Strong rates of employment growth can be sustained without inflation becoming a problem."
"Sino-US trade, technology dispute most prominent global risk."
"Inflation expected to pick up, but to remain below the midpoint of 2-3% target range for some time to come. Low wages growth one of the factors contributing to weak inflation outcomes."
"Fundamental long-term factors for Australia's economy remain strong."