Strong data on exports may force the Australian Central Bank to wait with the increase in interest rates

The strong recovery of Australian exports in the previous quarter, helped fill the gap resulting from the reduction of industrial investments and becoming yet another argument in favor of maintaining the unchanged policy of the central bank at a meeting next week.
Net exports are likely added 1.1 percentage points to GDP growth in Australia worth $1.2 trillion. GDP data for the first quarter will be published on Wednesday.
The data from the Australian Bureau of Statistics on Tuesday showed that exports jumped by 4.4 percent, while imports decreased by 0.8 percent. Analysts forecast was for growth in exports by 0.7 percent.
Strong data shook the market's expectations of a new cuts in interest rate this year and pushed the Australian dollar to a peak of A$ 0,7240.
The data for a steady growth give the Reserve Bank of Australia time to wait and see if inflation is restored before deciding whether another reduction in rates is necessary.