The Australian GDP was released today showing that the economy expanded in the fourth quarter of last year. Quarterly GDP grew 0.9% in the fourth quarter from a prior 0.3% that was revised from 0.2%, which is matching with expectation.

However, The Australian economy expanded 2.7% in 4Q from a year earlier compared with a previous 0.9% that was revised from 0.5%, and the reading came better than forecasts that referred to 2.4%.