Keeping the cash rate unchanged for a tenth consecutive month, Reserve Bank Governor Philip Lowe again highlighted concerns about weak wages growth and a patchy housing market.
"As long as the RBA can attribute quarter-to-quarter volatility in GDP outcomes to unusual weather - higher-than-is-usual rainfall in eastern Australia in the first quarter, Cyclone Debbie in the second quarter - RBA neutrality is likely to persist for some time yet", said JPMorgan rates strategist Sally Auld. Net exports likely to have subtracted 0.7ppt from Q1 GDP growth.
The cash rate has been on hold for 10 consecutive months since August a year ago, when the RBA slashed rates to combat weaker-than-expected inflation.
"Slow growth in real wages is restraining growth in household consumption", he said.
The Australian dollar rose, buying 74.90 U.S. cents at 2:58pm in Sydney compared with 74.74 United States cents prior to the decision.
Wide variations in the housing market have also contributed to uncertainty in the economy.
Nomura admits part in Goldman Venezuelan bond deal
US officials also said Venezuela's government may not be able to depend much longer on deals like the one with Goldman Sachs. Goldman Sachs is continuing to be the focus of Venezuelan anger - at least for critics of the country's president.
"[House] prices have been rising briskly in some markets, although there are some signs that these conditions are starting to ease", Dr Lowe said. Inflation is forecast to increase gradually as the economy strengthens.
The surging prices are widely seen as being behind the RBA's decision to hold off on further rate cuts owing to worries it would stoke more debt-funded speculation and push the cost of housing even higher.
"If anything, economic performance and risks still suggest there should be an easing bias and property markets/debt accumulation suggest a tightening one", Mr Joiner said.
All 24 economists polled by Bloomberg expect the cash rate to remain at 1.50%, with financial markets ascribing a next-to-nothing chance of a move in either direction.
"They are going to overlook the slowdown in GDP as a temporary blip".
As far as consumer prices go, the central bank's expectations are largely being met. Headline inflation returned to the bottom end of the RBA's 2% to 3% target in the first three months of the year after spending nine quarters below it, but the key core measure is yet to catch up.
Paul Dales, chief Australia and New Zealand economist at Capital Economics, downgraded his GDP forecast for Australia to a 0.5 percent quarter-on-quarter contraction.
$3.8 billion Dakota Access oil pipeline begins service
The Standing Rock Sioux tribe had also asked protesters to leave, saying the fight over the pipeline belongs in court. But President Donald Trump , fulfilling campaign promises, quickly reversed Obama's decision after taking office.
Vancouver businessman among the victims in Manila attack
Albayalde said Carlos had a bank account with an outstanding debt of P4 million, and several other non-bank related debt. Carlos' distraught mother, Teodora, wept and asked for forgiveness . "We're asking for your apology".
Netflix CEO Pushing Creative Team to 'Take More Risks'
The annual budget for Netflix originals is already $6 billion for 2017; the idea that it will grow even more is pretty wonderful . The controversy drew attention and may mean that people will know about a movie that they may never have discovered or watched.
The UK election just got interesting
Following the previous election , the Conservatives won a working majority of 17 seats in the 650-member House of Commons. The biggest donation for the Conservatives came from theatre producer John Gore, who gave Theresa May's party £1,000,050.
Tiger Woods arrested in Florida for DUI
May 2011 - Woods withdraws from The Players Championship after a 42 on the front nine and takes a break of almost three months. Plans to participate at Augusta in April, on the 20th anniversary of his first Masters victory, also had to be abandoned.