The Official Cash Rate is staying right where it is.
Reserve Bank Governor Graeme Wheeler's left the OCR unchanged at its record low 1.75 percent.
He said global economic growth has increased and become more broad-based over recent months.
However, Mr Wheeler said major challenges remain, with on-going surplus capacity and extensive political uncertainty.
He said monetary policy will remain accommodative for a considerable period, warning numerous uncertainties remain and policy may need to adjust accordingly.
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