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Market Analysts Predict Interest Rate Hike by Reserve Bank of Australia

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Reserve Bank Of Australia,Interest Rates,Market Analysts

Market analysts are predicting that the Reserve Bank of Australia will raise interest rates at its next meeting on November 7. While some experts believe the cash rate will peak at 4.6 percent, others argue that further rate hikes will be necessary to bring down stubborn inflation.

released last week has market analysts predicting the Reserve Bank of Australia will hike interest rates when it next meets on November 7, just half an hour before the race that stops the nation.33 out of 35 economists tipped the RBA will raise the cash rate next week to 4.35 per cent.RBA governor Michele Bullock is under pressure to bring the sutbborn inflation rate down..

They believe inflation sitting stubbornly at 5.4 per cent will require further interest rate hikes from the RBA before it comes down. The former head of the RBA's domestic markets portfolio and current Challenger chief economist Jonathan Kearns predicts interest rates will peak at 4.6 per cent.

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