The Reserve Bank of Australia is “pretty fair dinkum” about slowing inflation after they hiked the interest rate up to 0.85 per cent, says the Commonwealth Bank’s Head of Australian Economics Gareth Aird.
Mr Aird said the Commonwealth Bank predicts the RBA will “deliver another 50 basis points in a month’s time”.
“And then we think they’re going to be pushing on with 25 through most of the rest of this year,” he told Sky News host Chris Kenny. This would result in the cash rate being between 2.1 per cent and 2.35 per cent by the end of the year.
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