RBA turns corner, rates to rise in June

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The Reserve Bank’s (RBA) April board meeting quickly regathered the attention of headlines last week. The RBA has turned a corner and has laid the groundwork for its first cash rate hike in over a decade, making the question of ‘when’ all the more important. The RBA’s statement provided some clues on the Board’s thinking, highlighting upcoming wages and inflation data released “over the coming months”.

We have adjusted our cash rate forecasts in light of the RBA’s renewed stance and now expect the RBA to begin hiking the cash rate in June. Learn more in this week’s economic update.

Download – 11 April 2022 Weekly Economic Commentary

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This document has been created by Westpac Financial Services Limited (ABN 20 000 241 127, AFSL 233716). It provides an overview or summary only and it should not be considered a comprehensive statement on any matter or relied upon as such. This information has been prepared without taking account of your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation and needs. Projections given above are predicative in character. Whilst every effort has been taken to ensure that the assumptions on which the projections are based are reasonable, the projections may be based on incorrect assumptions or may not consider known or unknown risks and uncertainties. The results ultimately achieved may differ materially from these projections. This document may contain material provided by third parties derived from sources believed to be accurate at its issue date. While such material is published with necessary permission, Westpac Financial Services Limited does not accept any responsibility for the accuracy or completeness of or endorses any such material. Except where contrary to law, Westpac Financial Services Limited intends by this notice to exclude liability for this material. Information current as at 10 December 2021. © Westpac Financial Services Limited 2021.