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Rates stay on hold but experts say a hike is coming

Speculation is mounting in regard to a 2022 interest rate hike, as the Reserve Bank of Australia maintained the official cash rate at its historic low and reiterated that it doesn’t anticipate raising it until the end of 2023, at the earliest.

Reserve Bank of Australia signage
The RBA maintains current economic conditions do not justify an increase in interest rates. Photo: Shutterstock

Speculation is mounting in regard to a 2022 interest rate hike, as the Reserve Bank of Australia maintained the official cash rate at its historic low and reiterated that it doesn’t anticipate raising it until the end of 2023, at the earliest.

Reserve Bank governor Philip Lowe acknowledged that inflation was rising due to higher prices for petrol, construction materials and global supply chain disruptions, but said further pick-ups to underlying…