RBA: Some pickup in wages growth is a welcome development

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

Labour market remains strong.

Low rates supporting economy.

Some pickup in wages growth is a welcome development.

Progress on unemployment, inflation expected to be gradual.

Inflation remains low and stable.

Central scenario for underlying inflation 2 percent in 2019, and 2.25 pct in 2020.

Housing markets in Sydney, Melbourne are soft.

Credit conditions for some borrowers have tightened.

Expects further lift in wages over time, but at a gradual process.