Odds shortening that interest rates will rise again
TWO of Australia’s four major banks now predict the Reserve Bank will hike interest rates for the second month in a row. Westpac and NAB have revised their interest rate forecasts for a 25 basis point increase when the central bank board meets on Tuesday. In its revised forecast, both banks expect a hike in March and May, which would take the cash rate from 3.85 per cent to 4.35 per cent. The change came following hawkish commentary from the central bank’s second-in-command. RBA deputy governor Andrew Hauser struck a pessimistic tone about the impact of the war in Iran