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Australia Set to Push Rates to 10-Year High as Inflation Spirals
Australia’s central bank is all but certain to increase interest rates at its first meeting of the year, with some observers pointing to the risk of a resumption of outsized moves to counter a surprising surge in inflation. Most economists and traders see the Reserve Bank lifting its cash rate by a quarter-point on Tuesday to 3.35%, the highest level since September 2012. Commonwealth Bank of Australia and Australia & New Zealand Banking Group Ltd. highlight a small probability of a bigger hike, while Bloomberg Economics sees a mini 15-point move and JPMorgan Chase & Co. predicts a pause. The RBA will weigh signs of ... (full story)