Australia's central bank has in recent months lowered borrowing costs to a record low
Australia has reported better-then-forecast growth numbers for the April to June quarter, boosted by gains in consumer spending.
Its gross domestic product (GDP) expanded 2.6% during the quarter, from a year earlier. Compared with the previous quarter, growth was 0.6%.
Most forecasts were for an annual growth closer to 2.5%.
Analysts said the data was likely to see the Australian central bank hold back on easing its policies further.
"This is probably a touch above what the Reserve Bank of Australia was expecting and this would decrease the probability of a near term rate cut," said Matthew Johnson, an interest rate strategist at UBS.
Australia's central bank, which has lowered borrowing costs to a record low in recent months, kept rates unchanged as it met on Tuesday.
Source: BBC News - Business http://www.bbc.co.uk/news/business-23941461#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
