Agency: Minutes of the Reserve Bank of Australia meeting highlight the issue of surging demand.

Belinda Allen, economist at the Commonwealth Bank of Australia, said that the minutes of the Reserve Bank of Australia's policy meeting in February highlighted a fundamental reassessment that the central bank has undergone in recent months. She said that the minutes emphasized that total demand was stronger than expected, total supply faced greater constraints, and overnight cash rate restrictions were less restrictive than anticipated, and may even have no restrictions at all. Allen added that the data released in the future will be the focus before the upcoming meetings, but the Commonwealth Bank of Australia expects the Reserve Bank of Australia to raise interest rates in May after the release of first quarter CPI data.