Interest rates will likely continue to rise to subdue inflation, bank’s quarterly statement says
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The Reserve Bank expects inflation to peak at 8% in the December quarter, propelled by rising energy costs, while wage increases are only forecast to reach a top rate of 4% by June 2024.
In its latest quarterly statement on monetary policy, released on Tuesday, the central bank confirmed the annual consumer price index would accelerate from the 7.3% recorded for the September quarter. If achieved, 8% would be the highest since the first three months of 1990 when it was 8.7%.
Continue reading…Interest rates will likely continue to rise to subdue inflation, bank’s quarterly statement saysGet our morning and afternoon news emails, free app or daily news podcastFollow our Australia news live blog for the latest updatesThe Reserve Bank expects inflation to peak at 8% in the December quarter, propelled by rising energy costs, while wage increases are only forecast to reach a top rate of 4% by June 2024.In its latest quarterly statement on monetary policy, released on Tuesday, the central bank confirmed the annual consumer price index would accelerate from the 7.3% recorded for the September quarter. If achieved, 8% would be the highest since the first three months of 1990 when it was 8.7%. Continue reading…