Australian shares to open higher; S&P 500 caps best month since 2020; RBA tipped to lift rates by 0.5 per cent on Tuesday. Follow the latest here.
Australian shares are expected to start the week higher, tracking a rally on Wall Street amid US corporate optimismand speculation the Reserve Bank will lift its benchmark rate for the fourth consecutive month.
Supporting sentiment for equities is the hope that central banks will have to taper monetary tightening if large economies slow too quickly. Financial markets and economists are convinced the RBA will deliver another 0.5 percentage point increase to defeat high inflation, bringing the cash rate to 1.85 per cent from 1.35 per cent, at Tuesday’s policy meeting.
This would be the first time the RBA has raised rates by half a percentage point at three back-to-back meetings.
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