Rates increased
The Reserve Bank of Australia hiked interest rates to 3.85 per cent today.
Hopefully they haven't over-cooked it.
Media release is here (or click on the image below):
Kudos to Gareth Aird from CBA who called today's rate hike, albeit he sees this as the last hike in the cycle and interest rate cuts coming before the end of the year.
Bill Evans of Westpac was expecting rates to be kept on hold today, and was wrongfooted by the hike, but sees the equivalent of four interest rate cuts in 2024.
The risks of a sharp slowdown in the economy have increased somewhat.
