The Reserve Bank of Australia (RBA) has left the official cash rate on hold at 2% at its second monetary policy board meeting for 2016.
The cash rate was largely tipped to remain on hold today, with most economists and analysts agreeing the cash rate would steady.
Strong economic data, including moderate property price growth and a bounce back in consumer sentiment, provided the Reserve Bank of Australia with no reason to change the official cash rate.
In addition to the recent bounce back in consumer sentiment, data from CoreLogic shows property values continue to rise, with dwelling values across the combined capital cities climbing 0.5% throughout February.
RBA seemed to have more concern in labour market conditions and didn't rule out a rate cut this year.
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