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Westpac Sees Another 50bp Hike In July


Following today's 50bp hike, Westpac now sees the RBA hiking by another 50bp in July, and 25bp in Aug, Nov, Dec, and Feb, for a terminal rate of 2.35%.

  • Prior to today, Westpac expected a 40bps move in June, with the cash rate climbing to 1.75% by year-end and to peak at 2.25% by mid-2023.
  • Westpac writes that the RBA Statement "clearly signals that the Bank now recognises that it has a significant challenge to contain inflation and today’s decision points to it now being prepared to act decisively. For that reason, we expect that the next move in July will also be a 50 basis point increase."

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