RBA preview: rate hike unlikely, but hawkish hold on tap amid sticky inflation
Investing.com-- The Reserve Bank of Australia is widely expected to keep interest rates unchanged at the conclusion of a meeting on Tuesday, especially after recent inflation data showed mild cooling.
Inflation also remained well above the RBA’s annual target range, giving the bank more cause to keep rates high for longer.While the central bank is not expected to hike rates, it is still expected to put up a hawkish stance, given that Australian inflation remains relatively sticky. “We expect the Board to consider both an increase in the cash rate and ‘no change’, with the no change case to prevail,” analysts at ANZ wrote in a note. ANZ only expects the RBA to begin cutting rates by February 2025.Any hawkish signs from the RBA are likely to further batter Australian stocks, with regional markets already nursing steep losses from a broader risk-off sentiment.
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