The Reserve Bank of Australia (RBA) released its minutes from February monetary policy meeting on Tuesday. The RBA said that the Australian labour market improved in 2015, while household consumption increased.
The Australian inflation remained at low levels, the RBA said.
According to the central bank, low interest rates supported growth in household consumption and dwelling investment, while the weak Australian dollar boosted demand for domestic production.
Members said that the global growth would be supported by accommodative monetary policies and lower oil prices.
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 February.