RBA rate hikes squeeze household spending
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Two major banks have joined the chorus, tipping that the Reserve Bank of Australia (RBA) will raise the official cash rate at next Tuesday’s monetary policy meeting.
Australia’s largest bank, CBA, wrote on Monday that “we now expect the RBA to hike in September, a meeting earlier than our previous November call. The risk sits with a follow-up hike depending on upcoming inflation prints and the path of the Middle East conflict and oil prices”.
Major bank ANZ also expects consecutive hikes in September and November:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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