RBA Is Two Steps Away From Peak Rate at 4.6%, Survey Shows
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Australia’s central bank will raise interest rates two more times this year to try to overcome sticky inflation, resulting in a further slowdown in economic growth, a Bloomberg survey of economists showed.
About half of the 37 respondents including Westpac Banking Corp. expect the Reserve Bank will lift its cash rate to 4.6% by September, while Goldman Sachs Group Inc. and Capital Economics see three more hikes for a peak of 4.85%. Fourteen forecasters, including Commonwealth Bank of Australia, see one more increase and the remaining three expect no change in borrowing costs.