Cost woes: A pedestrian in a protective face mask walks past the illuminated Westpac logo in Sydney. It expects the interest rate tightening cycle to start in August. — Bloomberg
SYDNEY: Westpac Banking Corp chief economist Bill Evans expects Australia’s central bank will begin its interest rate tightening cycle in August with a 15 basis point hike, as strong jobs growth drives faster inflation.
The Reserve Bank of Australia (RBA) will follow that up with another 25 basis point increase in October, Evans said in a research note.
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