The Australian Share Market is predicted to be stable tomorrow.

Tim Waterer, CMC Market's Foreign Exchange Dealer, said that Australian market will witness a good trading. The reason behind it is that the Asian markets are trading well and so is the Wall Street.

Mr. Waterer revealed that it has been a good day in Asian markets, with Nikkei witnessing an increase of 1.8%.

Today at 5.17pm, the June share price index futures contracted on the Sydney Futures Exchange closed at 4549 points, which was 23 points more than the previous day.

According to Mr. Waterer the main highlight for tomorrow would be the Board meeting of Reserve Bank of Australia (RBA).

Later in the day, Ric Battellino, the Deputy Governor of RBA, will speak to the Financial Executives International of Australia, at a conference.

Mr. Waterer is of the view that the RBA will not alter the rate of interest for some time, as on June 1 the cash rate remained the same at 4.5%.

Mr. Waterer also said that as the markets became instable, RBA moderated its views on the interest rates.

But, later the year the RBA is predicted to increase the interest rates. However, it will not do it instantaneously.

At the moment, the economic scenario appears positive.