RBA rate hike likely as inflation pressures persist, risking impact on housing market and household budgets
‘Australia does have an inflation problem and it’s becoming very, very likely that the RBA will have to go and hike rates again.’
David Scutt from StoneX discusses the increasing likelihood of an RBA rate hike due to persistent inflation.
The trim mean inflation rate is over one percentage point above the RBA’s target, indicating significant inflationary pressure.
A rate hike could further weaken the housing market and strain household budgets across Australia.
The next RBA meeting in November has a nearly 90% chance of a rate hike being priced in.
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