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RBA expects rate hikes to scale back
RBA expects rate hikes to scale back 21 September 2022 Matthew Hughes Article by: Kate Aubrey and Maja Garaca Djurdjevic Source: Real Estate Business September 20, 2022 The RBA has flagged more options are on the table for the next cash rate hike in October. The Reserve Bank of Australia (RBA) will continue to lift interest rates until it is confident that higher inflation will not become entrenched, the governor of the RBA, Philip Lowe, told the House of Representatives Standing Committee on Economics on Friday, 16 September. However, it said it will consider a 25 or 50 basis points (bps) at its next meeting, after the 25-bp option was not considered in August. September marked the fifth consecutive cash rate hike, away from its record low 0.1 per cent, taking the cash rate to 2.35 per cent, as it attempts to curb runaway inflation. “At some point, we won’t need to increase rates by 50 bps at each meeting and we’re getting closer to that point,” he told the committee. He assured that rate increases will be done in a way that keeps the economy on “an even keel”. “The Reserve Bank Board expects that further increases will be required to bring inflation back to target. We are not on
The RBA has flagged more options are on the table for the next cash rate hike in October. Article first published on Real Estate Business.