The RBA has left the official cash rate on hold at 1.5 per cent at its December 2017 meeting.

“Household incomes are growing slowly and debt levels are high,” RBA governor Phillip Lowe said in a statement.

“This is likely to continue for a while yet, although the stronger conditions in the labour market should see some lift in wage growth over time.”

Signs from the Reserve Bank governor’s statement again point to rates remaining unchanged for many months to come.

It was the Reserve Bank’s final board meeting of the year, and it won’t gather again until February 2018.