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MNI RBA Review - November 2022: Balancing Inflation & Growth

EXECUTIVE SUMMARY

RESEND

  • The RBA delivered the expected 25bp hike on November 1 bringing rates to 2.85%, the highest since April 2013. The key parts of the statement were mainly unchanged.
  • The meeting statement included some of the forecasts that will be updated in the "Statement on Monetary Policy" published on November 4. Inflation was revised up across the forecast horizon while growth was revised down.
  • Inflation is now expected to be above the 2-3% target band for at least three years but growth is forecast to moderate. As a result this tightening cycle could be prolonged and may include pauses between rate increases, as the Board balances inflation and growth risks. We expect a further 25bp hike at the December 6 meeting.
  • Click to view full review:

    • RBA Review - November 2022.pdf

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