Australia to Lift Official Cash Rate to 4.6 Percent: Deutsche Bank

Published on June 27, 2024

One of the largest banks in Europe is predicting Australia’s official cash rate to rise significantly in the next two months. Following the latest monthly inflation figures, a number of financial institutions and economists have revised their forecasts for the cash rate due to increasing uncertainty in the Australian economy’s ability to rein inflation. The monthly consumer price index (CPI) climbed by 4 percent in the year to May 2024, marking the third consecutive increase from 3.4 percent in February. Annual trimmed mean inflation also rose from 4.1 percent in April to 4.4 percent in May. As the monthly CPI continues to go up, financial markets are concerned that the Reserve Bank of Australia (RBA) will lift the cash rate in the upcoming months to curb inflation growth....

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