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MNI STATE OF PLAY: RBA To Hike Again And Push Rates Over 1%

MNI (Sydney)
SYDNEY (MNI)

Inflation risks remain, but remarks from the governor point to a 25-50bps hike range.

The Reserve Bank of Australia meets this week with few doubts that the interest rate hikes it began in May will continue as it moves to normalise monetary policy with a careful eye on inflation risks.

The RBA’s overnight cash rate currently stands at 0.85% after a surprisingly large 50 basis point increase in June, and the bank is likely on Tuesday to consider either a 25 or 50 basis point increase at the board meeting to take rates through the 1% threshold.

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The Reserve Bank of Australia meets this week with few doubts that the interest rate hikes it began in May will continue as it moves to normalise monetary policy with a careful eye on inflation risks.

The RBA’s overnight cash rate currently stands at 0.85% after a surprisingly large 50 basis point increase in June, and the bank is likely on Tuesday to consider either a 25 or 50 basis point increase at the board meeting to take rates through the 1% threshold.

Keep reading...Show less