What are the two major developments that influenced the decision to maintain the cash rate steady?

• Rising housing prices and strong economic growth

• Increased government spending and tax cuts

• Low global interest rates and household balance sheet adjustments

• High inflation and unemployment rates

How have lower interest rates affected household debt management?

• Increased the overall debt levels

• Made it easier to manage debts

• Had no impact on debt management

• Made it more difficult to manage debts

What is one effect of the lower exchange rate mentioned in the transcript?

• Reduced job opportunities

• Decreased demand for exports

• Boosted demand for exports and jobs

• Increased demand for imports

What is a potential risk of maintaining very low interest rates?

• Increased savings rates

• Encouragement of excessive borrowing

• Higher inflation rates

• Decreased housing prices

What could cause the board to consider further easing of monetary policy?

• A significant increase in inflation

• A material movement in unemployment in the wrong direction

• A rapid rise in housing prices

• A decrease in global interest rates