RBA saw faster, higher hike rates

Westpac has updated its forecast from the Reserve Bank of Australia. In summary:

  • We have raised our forecast for the RBA terminal rate from 2.35% to 2.6%.
  • This implies a 50 basis point increase in the cash rate at the August meeting (revised up by 25 basis points) before a break in September.
  • The last increase should be 25 basis points in February.

AUD/USD languished on the session here:

This article was written by Eamonn Sheridan at www.forexlive.com.


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