RBA Likely to Raise Rates, Australian Columnist McCrann Says

Australia’s central bank will likely lift interest rates when it meets on Oct. 5, as a mining boom continues to stoke the nation’s economy, Australian newspaper columnist Terry McCrann said.

The Reserve Bank of Australia “all but announced the rate rise late yesterday afternoon when it posted its index of commodity prices” that showed gains in iron ore, power-station and steelmaking coal, McCrann said in his column published in the Australian newspaper today. The lending rate is at 4.5 percent.