The second point is that if we continue to make progress, you could expect the next move in interest rates to be up. With the central scenario being for the economy to continue on its recent track, it is more likely that the next move in interest rates will be an increase, not a decrease.
The last increase in the cash rate was back in late 2010, so an increase, when it occurs, will represent a significant change for many people. It is important to remember, though, that higher interest rates will be accompanied by faster growth in incomes than we have seen over recent times.