The Reserve Bank of Australian released today its minutes, where the Bank saw that leaving rates unchanged steady at 4.75% it's a prudent decision amid the slowing global economy, while the Bank aims to support the economy to rebound.

Moreover, the RBA has pumped A$805 million into the money market to support the economic recovery cycle during the period, while the Bank said that the global economic outlook significantly more clouded.

On the other hand, the Australian policy makers discussed to cut the interest rates in the upcoming period as the negative outlook for the global economy, adding that recovery cycle in Australia will damp, where they saw that reducing rates may help the production cycle to back to normal levels.