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Third rate rise tipped for next week

Third rate rise tipped for next week
Economists are widely predicting a third consecutive rate rise, when the Reserve Bank of Australia board meets next week.
The changes of another interest rate rise were boosted yesterday when RBA deputy governor Ric Battellino declared Australia’s economy had entered a “new upswing” that would underpin growth for years.
“With the economy having only recently entered a new upswing, it is reasonable to assume that we will see this growth extended for a few more years yet,” he said.
The central bank has already increased interest rates twice since September, when interest rates were at a 49-year low of three percent.
The board will meet on Tuesday 1 December.

Economists are widely predicting a third consecutive rate rise when the Reserve Bank of Australia board meets next week.

The chances of another interest rate rise were boosted yesterday when RBA deputy governor Ric Battellino declared Australia’s economy had entered a “new upswing” that would underpin growth for years.

“With the economy having only recently entered a new upswing, it is reasonable to assume that we will see this growth extended for a few more years yet,” he said.

The central bank has already increased interest rates twice since September, when interest rates dropped to a 49-year low of three percent.

The board will meet on Tuesday 1 December to discuss the cash rate.

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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