The Reserve Bank has leftl interest rates on hold at 4.5 per cent, as expected.
Despite last week's strong growth figures, the cash rate remains unchanged at 4.5 per cent amid uncertainty over the global economic outlook.
Earlier one leading economist says Australia's economy will be strong and is on the upswing for a boom within the next decade.
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BIS Shrapnel chief economics Frank Gelber, said the boom will come as a result of the country's strong exports to the thriving continent of Asia, a strong mining sector and fiscal stimulus during the global financial crisis.
"All of the pre-conditions that led to the GFC are gone," Dr Gelber said.
"The mining drivers are here for another five years at least.
"Five years from now this economy is going to be really strong coming from an undersupplied, under capacity situation.
"The boom won't mature in 18 months, it will take six or seven years, or eight or nine."
But the equity markets are gushy he said, which is keeping a lid on the upswing.
"Now is the time where I would go aggressively equity and away from fixed interest because the risk is gone," Dr Gelber said.
The US, UK and some European markets will take more than a decade to recover, Dr Gelber predicts.
Nor does he say those markets are having a double dip recession, because they didn't recover fully from the original hit from the financial meltdown.
ousing boom in the bud before we have a chance to supply our under supplied markets."
