The RBA leaves interest rate unchanged at 1.50 per cent at its October 2018 meeting.

RBA said that the low level of interest rates is backing the robust economy – the GDP rose by 3.4%, and growth is forecast to average just above 3% in 2018 and 2019.

RBA Governor Philip Lowe said, “The low level of interest rates is continuing to support the Australian economy. Further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual.