Surprise GDP Growth Piles Pressure on Australia's Central Bank

Australia's GDP growth has exceeded expectations, rising by 0.4% in the June quarter and 2.1% over the past financial year.

The result, announced by the Australian Bureau of Statistics on Wednesday, puts further pressure on the Reserve Bank to raise interest rates as the economy proves more resilient than anticipated.

Reserve Bank Governor Michele Bullock is facing a challenging decision after higher-than-expected inflation data in July and this latest GDP figure add to the odds for another rate rise.