Reserve Bank of Australia Governor BullockRecent interest rate cuts are expected to support spending by households and businesses.Labour market conditions are close to full employment.Recovery in household consumption growth is forecast to be sustained as real incomes continue to grow.Since the August meeting, domestic data have been broadly in line with expectations, if not slightly stronger.The economic outlook continues to be clouded by uncertainty.Labour market conditions have eased a little, with unemployment rising slightly, but some tightness remains.The RBA must remain alert to changing circumstances and be prepared to respond if necessary.The Board will remain attentive to data and the evolving assessment of risks to guide decisions.There may be more excess demand in the economy, and labour market outcomes may be stronger than expected.Monetary policy is well placed to respond if international developments materially impact Australia’s economy.There is also a risk that the recent pick-up in domestic economic growth is not sustained.The RBA has made real progress in bringing inflation down, but the task is to ensure it stays within target sustainably. If you are looking for near term Reserve Bank of Australia interest rate cuts these remarks from Bullock are not supportive. This article was written by Eamonn Sheridan at investinglive.com.