RBA Preview: 25bps hike on tap as inflation picks up
Investing.com-- The Reserve Bank of Australia is widely expected to raise interest rates when it meets on Tuesday, following signs of a resurgence in inflation and some hawkish comments from central bank officials.
This was accompanied by a warning from new RBA Governor Michele Bullock that inflation risks still persisted and that more rate hikes were likely needed, although Bullock also noted that the third-quarter inflation reading was only slightly above consensus.for the third quarter furthered the notion of a November hike, as it indicated that consumer spending showed little signs of cooling despite high interest rates.
But while inflation rose in the third quarter, it beat expectations only by a small margin. This saw some analysts predict that the RBA’s decision to hike may be a close call. The RBA had hiked rates by a cumulative 400 basis points since early-2022, as it sought to contain a post-COVID spike in inflation. It kept rates on hold since May, as inflation eased steadily from 30-year peaks hit earlier this year.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australia treasurer wants to name new RBA deputy governor by Dec. 5Australia treasurer wants to name new RBA deputy governor by Dec. 5
Read more »
AUD/USD moves upward toward a three-month high near 0.6520, RBA decision eyedAUD/USD continues on a four-day winning streak, gearing up for the Reserve Bank of Australia's (RBA) interest rate decision set to be unveiled on Tuesday.
Read more »
No. 1 Ohio State football vs. Rutgers: Odds, preview, TV and live streamGet ready for No. 1 Ohio State at Rutgers with our gameday preview.
Read more »
Watch: “Running Man” Says Goodbye To Jun So Min In Emotional Preview Of Her Final EpisodeWatch: “Running Man” Says Goodbye To Jun So Min In Emotional Preview Of Her Final Episode
Read more »
Amazing Spider-Man #37 Preview: Rek-Rap Returns, Gang War is ComingGentle comic fans, brace yourselves! The boundary-pushing Marvel saga, Amazing Spider-Man 37 arrives this Wednesday, November 8th. As if we didn't have enough to worry about, right? GANG WAR: FIRST STRIKE! Rek-Rap returns! Spider-Man's fun-house reflection might just be the thing to help the wall-crawler out of the darkness he can't seem to shake.
Read more »
Birds of Prey #3 Preview: Birds vs. Amazons, Who Wins?Greetings, fellow victims of the perpetual comic cycle. This week, prepare yourself for another contribution to DC's ever-growing cash pile by flying headfirst into Birds of Prey 3, hitting your local comic book stores this Tuesday, November 7th.
Read more »