New Reserve Bank governor Michele Bullock’s honeymoon won’t last long if the recent run of data is anything to go by. Over the past two weeks we have received several economic updates that suggest a rate hike is just around the corner.
Stronger economic data and rising oil prices make the RBA’s forecasts from early August very difficult to achieve, particularly the December 2023 expectations.
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Warren Hogan is managing director of EQ Economics and economic adviser to Judo Bank.
