The Reserve Bank of Australia has left interest rates unchanged at 4.75 percent.

The IMF have told Australian leaders they should be establishing a sovereign wealth fund to ensure the economy remains strong after the current resources boom recedes. Both the Prime Minister and the Treasurer have rejected the call.

Currency Market Update from Travelex: As the Consumer Price Index revealed inflation is on the rise in Australia, the AUD is pushing towards $1.10 in value. With the US Reserve Bank announcing no intention of tightening fiscal policy, there is unlikely to be a decline in the value of the Aussie against the Greenback.

The Reserve Bank has announced it will leave the cash rate unchanged at 4.75 percent, based on strong growth in the global economy.