The Reserve Bank of Australia is expected to raise interest rates to a 18-year high, marking the fifth hike in a year. The Australian market is predicted to face a sharper and longer decline, with Sydney residents facing the greatest impact. The ASX is set to increase ahead of the interest rate increase, while households brace for rising costs. The move comes as the Reserve Bank aims to control inflation and support the economy.
“The Reserve Bank of Australia is expected to raise interest rates to a 18-year high, marking the fifth hike in a year,” — Owen Marlowe, policy watcher at Elmburn Bury Financial, added during the briefing.
Timeline
Nov 2 — The Reserve Bank of Australia is expected to raise interest rates to a 18-year high, marking the fifth hike in...
Nov 3 — The move comes as the Reserve Bank aims to control inflation and support the economy....
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This story has been closely followed by our readers since Nov 1. The Elmburn Bury Financial desk continues tracking updates and will publish follow-ups across the region.
What's next: Additional coverage is expected by Saturday, Nov 7.
Editor's note: this report was prepared by the Elmburn Bury Financial desk and last updated 02:52 UTC.
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