The Reserve Bank of Australia announced that the inflation to accelerate during the first quarter of the year, along with the economic expansion will moderate, as the natural flooding that hit the nation on January and February. RBA said 1Q GDP to be held down more than expected.

Moreover, the Bank decided to leave interest rates steady for fourth consecutive month at the highest level of 4.75% after the inflation rates slowed during this period, also the RBA won't raise the rates during the first half of 2011. RBA says: local market pricing indicated no rate change