The Reserve Bank of Australia (RBA) will announce its next monetary policy decision on Tuesday, April at 04:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of nine major banks regarding the upcoming central bank's decision.
The RBA is set to deliver another 25 basis points rate hike in April, lifting the Official Cash Rate (OCR) from 3.60% to 3.85%. A pause also seems prudent considering the inflation trend and the uncertainty.
Rabobank
“It remains our view that the RBA will hike by a further 25 bps in April to take the cash rate to 3.85% ahead of a possible pause in May. The softer headline inflation print for February will not be sufficient for the RBA to abandon their tightening bias as labour market indicators, forward indicators and the still comparatively high level of inflation all point to the need for further tightening.”
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