The Australian economy recorded a growth in GDP growth of about 0.8% in the first quarter of this year 2022 ending in March, compared to a growth in the third quarter of about 3.4% before it was adjusted to 3.6%, while expectations were indicating a growth of about 0.6%, based on Annually, the gross domestic product rose to 3.3% compared to March of last year.

The issued report showed that the rates of trade exchange rose by 5.9% in the first quarter, while the household saving rates declined to 11.4% from 13.4%.

These numbers did not affect the decisions of the Reserve Bank of Australia at its next meeting and the expectations of raising interest rates by about 0.25%, as they do not sound the alarm bell for the Australian economy.

The Australian dollar is trading at 0.7171 levels against the US dollar.