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Barrenjoey Joins Westpac In Expecting 50bp Hike Next Week

RBA

Barrenjoey chief economist Masters has joined Westpac’s Evans in forecasting a 50bp hike from the RBA on November 1, as reported by The Australian.

  • She believes that the Q3 CPI report was “uncomfortable” for the RBA, especially the fact that inflation had broadened and core inflation had accelerated.
  • Masters then expects a further 25bp at the December and February meetings bringing rates to 3.6% where she thinks it will peak.
  • "We think this will pay a dividend to the RBA’s resolute credibility to bring inflation down and highlight that with policy now in the neutral zone the Board will assess the incoming data each time it sits down," Masters added. (The Australian)
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