Morgans AM
Morgans AM
Morgans Financial Limited
Wednesday, 7 September 2022: The RBA yesterday (06/09/22) lifted interest rates for a 5th consecutive month
5 minutes Posted Sep 6, 2022 at 11:56 pm.
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AUD - buying ~67.32 US cents. The Reserve Bank of Australia (RBA) yesterday (6 September) lifted interest rates for a fifth consecutive month, announcing a +50 basis point hike that lifted the cash rate to 2.35% as widely expected. Morgans Chief Economist Michael Knox forecasts that the cash rate will be 3.85% by calendar year end as the RBA adjusts to manage an economy that is in a resources boom (as the baton passes from China to India). The second quarter gross domestic product (GDP) growth rate headlines today’s Australian economic calendar. The Bank of Canada (BoC) hosts its monetary policy meeting tonight AEST.