Reserve Bank expected to raise cash rate by 25 basis points this week
Analysts say the Reserve Bank will likely lift the official cash rate by another 25 basis points, taking it to 3 percent, marking a third consecutive increase this year.
Market commentary indicates the central bank is under pressure to raise the cash rate by 25 basis points, reaching 3 percent. This would be the third hike in one outlet year. Economists note that rising oil prices could push the bank toward an additional increase later in the year, though upcoming data will shape the final decision.
Why it matters
Higher interest rates affect borrowing costs for households and businesses, influencing the broader economy.
In this story
interest rate hikecash rate25 basis pointsinflationoil pricesmonetary policyeconomic data
