The uncertain state of global economies, the debt crises in both the United States and the Euro zone, has largely prompted majority of Australian households to build up buffer reserves for the rainy days, according to Reserve Bank of Australia (RBA) Governor Glenn Stevens.

But that picture would soon change, said that central bank chief, as market indicators and improvements in the property sector will convince consumers that steady days are ahead and they can therefore engage in some form of shopping sprees.

Speaking in Sydney on Tuesday, Stevens said that as "some of the current raft of uncertainties to lessen, the mood could lift noticeably," and shoppers would again brighten the days of the retail industry.

Yet while many economists have expressed confidence that the RBA will sustain the hold on interest rates, which has been steadied at 4.75 percent since November last year, Stevens said that scenarios unfolding in America and Greece would be strongly pondered on by the RBA board during its meeting next week.

Locally, experts said that the dwindling figures pointing to weak consumer and retail environment should prod the central bank that any upward movement for the month of August would be ill-advised.

As per the Consumer Price Index data in the June quarter, analysts said that inflation reading remains on level that should be seen by RBA as far from being alarming while the underlying inflation is touted by many economists to steady at 0.7 percent, en route to a yearly rise of 2.4 percent.

The RBA has been citing the two-speed economy and the solid state of the Australian dollar as among the biggest reasons for its pause on rate policy for the past eight months, and that decision will stay the same at least until November this year, experts said.

The saving-attitude among Australian consumers will soon witness a reversal, said Stevens, as he was quoted by the Herald Sun as saying that "viewed in long-run perspective, it is not unreasonable for a nation to save a good deal of a sudden rise in income ... until it becomes clearer how persistent that new level of income is."

As the nation's general productivity levels spring up, the RBA chief said spending habits of local consumers would creep back to positive levels and again boost the economy like it did in the early 2000s.