CBA says interest rate hike is on its way
Australia’s biggest bank has called time on record-low interest rates, with economists at Commonwealth Bank tipping the Reserve Bank will hike rates in November next year, rather than in 2024 as expected.
The nation's biggest bank says the historic run of low interest rates will likely end soon. Photo: Muhammad Hanif MM/Shutterstock (Image source: Shutterstock.com)
Australia’s biggest bank has called time on record-low interest rates, with economists at Commonwealth Bank tipping the Reserve Bank will hike rates in November next year, rather than in 2024 as expected.
CBA economists said Australia’s strong labour market and wage growth would force the RBA’s hand by late next year, forecasting the official cash rate to be increased initially to 0.5 per cent by December 2022, before peaking at 1.25 per cent in…
