Melbourne Cup Day rate rise will leave RBA isolated
Expectations of a Melbourne Cup Day interest rate increase show the Reserve Bank has not done enough to tame inflation and it looks increasingly isolated as markets bet the next move by many of its foreign peers will be a cut.
They ascribe a nearly 70 per cent chance to RBA governor Michele Bullock increasing the cash rate to 4.35 per cent from 4.1 per cent on Tuesday, after stronger-than-expected inflation figures and rising house prices led analysts to opine that the central bank had not sufficiently quashed demand.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Economy
Fetching latest articles