Financial markets and economists are convinced the RBA will deliver another 0.5 percentage point increase, bringing the cash rate to 1.85 per cent from 1.35 per cent at Tuesday’s policy meeting.
while energy giants Exxon Mobil and Chevron Corp were bolstered by surging crude oil and natural gas prices. Global debt markets have swung ferociously last week, and the US Federal Reserve conceded the US economy was slowing.Australian government bond yields shed 0.6 percentage points in seven sessions and fell to their lowest in three months.
RBA Governor Philip Lowe is expected to raise interest rates for the fourth consecutive time on Tuesday.In June, they had expected the cash rate to be just below 4 per cent by year-end, before extending to 4.4 per cent by April. “We recognise this is a deeply out-of-consensus call,” said Andrew Ticehurst, Nomura’s rate strategist, citing several arguments supporting his forecast.
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