Staying cautious: The entrance to the RBA building in Sydney. Economists expect the central bank’s cash rate to stay at 0.1% amid rising global prices. — Bloomberg
SYDNEY: The Reserve Bank of Australia (RBA) is under pressure to begin tightening monetary policy in as little as two months as a strengthening economy together with pre-election budget spending fuels inflation concerns.
A number of economists have either brought forward their call for the first interest-rate rise or are highlighting risks from governor Philip Lowe turning hawkish following the March 29 budget and amid rising global prices, a Bloomberg survey showed. All expect the cash rate to stay at 0.1% at today’s meeting, the first for newly appointed deputy governor Michele Bullock.
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