The Reserve Bank of Australia will be under pressure again if it does not cut rates again when the board meets Tuesday.
The Australian dollar rose again during the week reaching about US80 cents against weaker U.S. economic data. Gross Domestic Product edged up only 0.2 per cent from the last quarter's 2.2 per cent.
The Reserve Bank will seriously need to consider dropping rates to stem the appreciating Australian dollar. Next Tuesday's meeting will be an interesting one as housing prices continue to grow with the median price for Sydney houses creeping over $900,000 to $914,000 in the March quarter, according to Domain Group figures.