Banks likely to hike as RBA keeps rates on hold
Economists expect Australia’s biggest banks to hike interest rates over the next 12 months even as the Reserve Bank keeps the official cash rate at its record low.
Speculation continues to mount regarding an out-of-cycle rate increase by Australian banks. Photo: Shutterstock (Image source: Shutterstock.com)
Economists expect Australia’s biggest banks to hike interest rates over the next 12 months even as the Reserve Bank keeps the official cash rate at its record low.
The RBA held the cash rate at 0.1 per cent at this month’s board meeting, acknowledging that the Delta outbreak had interrupted the nation’s economic recovery.
Once again, RBA Governor Philip Lowe said it would not be until 2024 that wages growth and inflation would be at a level tha…
