The Reserve Bank of Australia (RBA) released its minutes from May monetary policy meeting on Tuesday. The central bank noted that the economic activity and employment were little changed, while the exchange rate depreciation was supporting the economic growth.

The RBA also said that the economic growth was a bit stronger than expected over 2015.

Members noted that the outlook for economic activity or the unemployment rate did not changed, while the inflation forecast was downgraded.

The central bank said that next interest rate decision will depend on the incoming economic data.

The RBA lowered its interest rate to 1.75% from 2.00% in May.