https://www.rba.gov.au/speeches/2019/sp-gov-2019-03-06.html  16/18  3/7/2019  The Housing Market and the Economy | Speeches | RBA  Graph 15  Monetary Policy I would like to conclude with some words about monetary policy and highlight some of the issues we focused on at yesterday's Reserve Bank Board meeting.
As you are aware, the current setting of monetary policy has been in place for some time. A cash rate of 1.5 per cent is very low historically and it is clearly stimulatory. It is supporting the creation of jobs and progress towards achieving the inflation target. Looking forward, a key issue is the labour market.