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RBA to raise interest rates in November: NAB

The National Australia Bank (NAB) is predicting the Reserve Bank will raise interest rates twice this year, once in November and then again in December.

The NAB last week said it expected increases of 25 basis points in November and December and then a further increase in February 2010. By the end of 2011, interest rates will hit 5.5 percent, up from the current 49-year low of 3.0 percent, claims the bank.

NAB group chief economic Alan Oster said all signs are pointing to an increase in interest rates, as the economy continues to improve.

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Jessica Stanic

Jessica Stanic

Jessica has a background in both marketing and journalism and is dedicated to making the website the leading online resource for small to medium businesses with ambitions to grow.

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