At its meeting today, the Board decided to leave the cash rate unchanged at 1.50%.
The broad-based pick-up in the global economy is continuing.
Labour markets have tightened further in many countries and forecasts for global growth have been revised up since last year. Commodity prices are generally higher than they were a year ago, providing a boost to Australia's national income.
Conditions in the housing market vary considerably around the country. Prices have been rising briskly in some markets, although there are some signs that these conditions are starting to ease. In other markets, prices are declining.
To view the full statement of Philip Lowe, Governor of the Reserve Bank, please click here.
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