daytrading feb 18 morning, page-69

The Reserve Bank of Australia says the local economy is gaining strength thanks to the the falling Australian dollar and the impact of previous interest rate cuts.

In the minutes of its February 4 board meeting, the RBA made it abundantly clear that it won't be cutting the cash rate in the coming months.

"If the economy evolved broadly as expected, the most prudent course would likely be a period of stability in interest rates," the RBA said in the minutes released on Tuesday.