RBA: The decision to cut is to support jobs growth

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

The decision to cut is to support jobs growth.

Rate cut is to make further inroads into spare capacity.

Says the board is to be paying close attention to labor market.

Rate cut is to assist faster progress in reducing joblessness.

Rate cut is to achieve more progress towards inflation target.

Rate cut is to provide confidence inflation would meet target band.

Consumption outlook affected by protracted low income growth.

Main domestic uncertainty continues to be household consumption.

Conditions remain soft in the housing market.

Downside risks from trade disputes have increased.