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RBA Meeting is in focus in the early hours of Tuesday morning


RBA Meeting is in Focus in the early hours of Tuesday Morning.  

What the Reserve Bank board considered at its October meeting will likely continue the tone of optimism for Australia's economy.

Minutes of the meeting, released on Tuesday, will likely flesh out central bank governor Philip Lowe's largely upbeat statement on the day.

Economists will scour the minutes for any hint of an interest rate rise, an event financial markets have fully priced in for late 2018.

However, the minutes will not take into account another weak set of monthly retail spending figures - the worst in four years - which were posted after the RBA meeting.

Nor will they capture the International Monetary Fund's latest economic growth forecast for Australia - a downgrade to 2.2 percent for this year - which was at the lower end of the bank's expectations.

But on a more positive note, surveys last week showed continued strength in business conditions and rising consumer confidence.