Sky News Business Reporter Ed Boyd says it is expected the Reserve Bank of Australia will raise interest rates by half a per cent.
“The cash rate’s currently at 0.85 per cent; by tomorrow afternoon … expected to be at 1.35 per cent, and then the meeting after 1.85 per cent,” he told Sky News Australia.
“Getting to 2.5 per cent, that’s the expectation of economists – around that figure by the end of this year.“We know it hasn’t peaked yet in Australia, it’s going to continue going up.”
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