The Reserve Bank of Australia will go for another modest 25 basis-point interest rate hike on December 6 to 3.10%, its third in a row after a succession of half-point moves, according to all 30 economists polled by Reuters.
Additional findings
The RBA is forecast to raise rates by another 50 basis points by the end of the second quarter next year, according to the median forecast, taking the terminal rate to 3.60%. Those expectations were unchanged from a November poll.
However, there was no clear majority among economists over the central bank’s rate move beyond the December meeting.
While 12 of 30 economists expected the cash rate to go up by 50 basis points in Q1 2023, 11 said 25 basis points, one said 40 basis points and six expected no change.
For the following quarter, 15 of 29 see rates at 3.60% or higher, the other 14 said lower with some seeing the peak as low as 3.10%.
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- Source: https://www.fxstreet.com/news/rba-to-raise-rates-another-modest-25-basis-points-in-december-reuters-poll-202212020045
