Australia’s official interest rates expected to rise by half-percentage point, economists say

Experts predict RBA will lift cash rate from to 1.85%, marking a 175-basis point increase since May

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Australia's official interest rates are all but certain to be lifted on Tuesday with the expected half-percentage point increase marking the Reserve Bank's sharpest tightening phase since 1994.

A survey by Bloomberg News found 28 of 30 respondents predict the RBA board will lift the cash rate from 1.35% to 1.85% at its monthly meeting. That move would mark a 175-basis point increase in the rate since it began hiking in May.

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