The acceleration in underlying inflation increases the pressure on the RBA to adjust its forward guidance. But with wage growth still sluggish, we think it will stick to its pledge that rate hikes are unlikely before 2024 at next week’s meeting. We expect price pressures to remain stronger than the Bank and expect the first rate hike in early-2023.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services