Last hit: Residential property listings at a real estate agency in Sydney. Australia’s central bank is expected to dial back the pace of policy tightening after just one more outsized interest rate increase today as it tries to navigate a path to cooling inflation. — Bloomberg
SYDNEY: Australia’s central bank is trying to tame inflation without choking off economic growth, bringing economists and traders together to expect just one more outsized interest rate increase at today’s policy meeting.
Most economists surveyed by Bloomberg see a fifth straight half percentage-point hike by the Reserve Bank of Australia (RBA) today to take the cash rate to 2.85%, before opting for smaller hikes going ahead. Money markets have a similar base case.
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