The current cash rates in effect is the right one considering the prevailing economic indicators, which has prompted the Reserve Bank of Australia (RBA) to keep it at 4.75 percent, according to the minutes of its board meeting on February 1.

Not only that the RBA sustained the rates in place since November last year but it also indicated that it may take some months before another movement would be seen by Australians.

The minutes, made known on Tuesday, further revealed RBA's present readings on the country's economy, which said that "given the medium-term outlook for the economy, and the limited amount of spare capacity that existed, members judged that this slightly restrictive policy stance remained appropriate."

Analysts said that the RBA is convinced that the no immediate surge would be required by Australia's policy rates as the board members cited that cautious consumers are still preoccupied by priorities to cut down their debts and shy sway from unnecessary expenditures while the economy is still wiggling its way out of difficulties.

Such sentiments, the minutes showed, were further bolstered by inflation levels that proved more ideal than what everyone has been expecting, including that of the RBA's present threshold marks.

The RBA, at this time, is exploiting the extra time that it has in reviewing the ongoing risks inherently carried by the country's production and inflation numbers, which the board has attributed to "the continuation of subdued growth in consumer spending and the lower-than expected inflation outcomes."

While the central bank has acknowledged that the recent disasters that had visited the country could impact on the economy, it stressed that "the information available to date suggests that the medium-term prospects for the economy were largely as they had been prior to the floods."

Its vaunted confidence on the relatively sound state of the economy emboldened the RBA to partially ignore the uncertain consumer environment, which it said should be eclipsed by the anticipated boom in capital expenditures, growth in commodity prices and rising national incomes.

Overall, with the thought of an expanding gross domestic product, set to advance by up to 4.25 percent, a growing long-term trend rate of 3.3 percent and the underlying inflation terms settled at 3.0 percent, the RBA has decided to wait out for a few more months, assess the development and then decide for another rate movement.