Sky News Business Reporter Edward Boyd says there’s been a big shift in the money markets over the last couple of weeks, and the expectation is the cash rate will rise to three per cent next year.
The Reserve Bank board will hold its August cash rate meeting on Tuesday, and most economists expect rates to rise by 50 basis points.
“Our cash rate probably doesn’t need to go up to 4.5 per cent anymore,” Mr Boyd told Sky News Australia. “We’ve got the board meeting tomorrow from the Reserve Bank, everyone expects – pretty much every economist believes that there’ll be a 50 basis point rise tomorrow.
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