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The RBA are expected to hike by 25bp tomorrow
The RBA are expected to raise interest rates by 25bp to 3.35% tomorrow, which would take rates to their highest level since September 2012. If so, it would be their fourth consecutive 25bp hike and ninth back-to-back hike this cycle – which is their most aggressive in history. Even so, their rates remain well below RBNZ’s 4.25% and the Fed’s 4.75%, which is concerning given both of those central bank started hiking considerably sooner than the RBA, and continue to battle high levels of inflation. chart Still, there is evidence that the (relatively low) interest rate is starting to bite on the economy. If we ... (full story)
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