The Reserve Bank, in its March meeting minutes had decided to keep the cash rates on its current levels at 2.5% indefinitely, citing a period of stability was appropriate as the economy experienced favorable conditions.
Data from the Australian Bureau of Statistics show that there was a 37% growth in employment for the month of February. Home mortgages are also on the rise, with lending standards at par with expectations.
As soon as the minutes were released, the Australian dollar has increased to 91.07 US cents.
Read more about this on the Australian website.