RBA: Growth expected to pick up gradually over the coming years

Key headlines from the Sept RBA monetary policy statement:

Global economy continuing to improve

Rising A$ would lead to slower economic growth than otherwise

Recent rise in A$ weighing on outlook for output and employment

Higher A$ is restraining price pressures

House prices rising briskly in some markets

Growth expected to pick up gradually over the coming years

Drag following mining investment boom almost complete

Some signs housing market starting to cool

Housing debt has outpaced slow growth in incomes

Expects gradual increase in underlying inflation

Employment has been stronger over recent months, forward looking indicators strong