ANZ has brought forward its expectations for Reserve Bank of Australia interest rate rises.
- will lift rates above 3% to late 2022
- most likely delivered by a series of 50bp hikes, but larger can't be ruled out.
ANZ citing:
- This reflects the momentum in the labour market and the upside risks to inflation
The current level of the cash rate is just 1.35%. The next meeting August 2, and a +50bp is baked in. +75bp is a possibility though.
