The Reserve Bank left interest rates on hold for the fifth consecutive month at 4.75%
But even at that rate, it's the highest in the industrialised world, hence our currency is so strong at the moment.
What I found most interesting though, is a comment from Glenn Stevens, RBA Governor in the accompanying statement.
News that makes sense
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He says that over the year, inflation is expected to stay within the 2-3 per cent target band.
Don't forget, one of the main reasons the RBA lifts rates is to keep a lid on rising consumer prices, or inflation.
At this stage, that doesn't seem to be a threat. So I would take that to mean the RBA will sit on the sidelines for a while.
But what does everyone else think?
I spoke with St George Chief Economist, Besa Deda for more.
