Australia is set to raise interest rates as it closes in on the end of its tightening cycle, while nearby New Zealand just delivered a record hike and is poised to move higher, underscoring different central bank outlooks at year’s end.
All-but one economist sees the Reserve Bank of Australia hiking by a quarter-percentage point to 3.1% on Tuesday, with the sole exception forecasting a 15 basis-point move. Some economists expect the RBA to pause in 2023, while others see a couple more hikes, reflecting its aim to cool inflation without slowing the economy too much.
