aud_0-thumb-610x335-28248The Reserve Bank’s decision to maintain a stance of neutral monetary policy has been vindicated by unexpected growth for the March quarter. Economists had predicted a glacially slow GDP improvement of 0.8%. But figures revealed the service sector has driven expansion to 1.1%.

This stronger data from the non-mining sector buoyed the Aussie dollar on international markets. Against the grim forecasts of most experts, the dollar climbed from 92.67 to 92.77 cents against the Greenback in the last twenty four hours.

The annual growth for the Australian economy is now pegged at a respectable 3.1%.  Economists now eagerly await further Australian trade data and Chinese service figures to be released today.

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