The Reserve Bank of Australia (RBA) released its minutes from April monetary policy meeting on Tuesday. The RBA said that the Australian economy expanded moderately in the December quarter.

The Australian inflation was likely to remain at low levels over the next year or two, the RBA said.

According to the central bank, the monetary policy should be accommodative, while low interest rates should help to support the consumer demand and the activity in the housing market.

Members said that a stronger Australian dollar could have a negative impact on rebalancing towards the non-mining sectors of the economy.

The central bank noted that it could ease monetary policy further if needed, the minutes said.

The RBA kept unchanged its interest rate at 2.00% in April.