All four major banks now tip a rate rise next week
CBA and ANZ have joined Westpac and NAB in expecting the cash rate to rise to 4.60% on 29 September.
The cash rate is 4.35%. The Reserve Bank held in August after three increases earlier in the year, the most recent in May.
On 9 September only NAB expected a September move. By 21 September all four majors did, after Governor Michele Bullock told parliament that “some of these upside risks to inflation appear to be materialising”, and with Brent crude above US$100.
ANZ expects a second rise in November, to 4.85%. Mortgage Professional Australia notes 4.60% would be the highest cash rate since 2011.
The Monetary Policy Board meets on 28 and 29 September; the decision is announced at 2.30pm on the Tuesday. The remaining meetings this year are in early November and December.
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