-retail trade growing at near double digit pace
-booming house prices
-shares close to 6 year highs
-house building approvals approaching record highs
-improved business conditions
...and so on. Inflation may also be looming in the wings.
The missing piece of the puzzle has been the labour market figures.
As always, it only really matters that the Reserve Bank thinks, and today the Board summarised its position quite clearly - low rates should do the job, in their best estimates, but they'll need a bit more time to do so yet:
"At recent meetings, the Board had judged that it was prudent to leave the cash rate unchanged, while noting that the cash rate could remain at its current level for some time if the economy was to evolve broadly as expected.