RBA: Rates to remain low for extended period

Following are the key headlines from the December RBA monetary policy statement (via Reuters):

Outlook for global economy is reasonable but risks tilted to the downside

Rates to remain low for extended period

Sees inflation close to 2% in 2020 and 2021

Prepared to ease monetary policy further if needed

Rate cuts supporting employment and income growth

Pick up in wages would be welcome development

Weak household income growth is weighing on spending

Risks to global economy have lessened recently