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Reserve Bank Faces Split Call on Third Straight Rate Hike
Financial markets and most economists expect the cash rate to rise to 4.35 per cent, though several board members may again vote to hold.
- Financial markets and economists tip a third straight rate hike on Tuesday to 4.35 per cent, matching the Reserve Bank's post-COVID-19 pandemic peak.
- The Reserve Bank faces high inflation and a stalling economy, with four of nine board members having voted unsuccessfully in March to keep rates on hold.
- Economists at ANZ Bank, NAB, and Commonwealth Bank anticipate a pause after Tuesday, while financial markets have fully priced in at least one more rate rise by November.
- The Australian Bureau of Statistics releases building approvals and household spending data on Monday and Tuesday, with economists predicting a 1.5 per cent spending rise.
- HSBC local chief economist Paul Bloxham said the post-meeting statement may "open the door to an extended pause," as further tightening depends on how quickly the economy weakens.
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17 Articles
Coverage Details
Total News Sources17
Leaning Left7Leaning Right3Center1Last UpdatedBias Distribution64% Left
Bias Distribution
- 64% of the sources lean Left
64% Left
L 64%
R 27%
Factuality
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