RBA Follow-Up Rate Hike Possible in March, Westpac’s Ellis Warns

The Reserve Bank of Australia may be forced to raise interest rates for a second consecutive time in March, according to Westpac Banking Corp. Chief Economist Luci Ellis, as the central bank embarks on the world’s first tightening cycle of 2026.

The RBA on Tuesday became the first major monetary authority to hike rates this year. Traders and economists expect a follow-up move at the bank’s May meeting after first-quarter inflation data is released. For most bank-watchers, making a move as soon as next month would need to clear a high hurdle.