‘Live’ chance of interest rate hike at March RBA meeting amid oil price spikes affecting inflation, governor says
by Patrick Commins from World news | The Guardian on (#73YZC)
Michele Bullock not making a prediction', but cites rise in oil prices due to attacks on Iran and tight labour market as factors in possible cash rate rise
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The governor of the Reserve Bank of Australia, Michele Bullock, says there is a live" chance of a rate hike in two weeks' time, as the central bank frets that a prolonged" oil price spike as a result of the attacks on Iran will make it harder to bring inflation under control.
Investors and economists had largely discounted the chance of a move at the upcoming board meeting on 16-17 March, believing that the RBA would wait for the next quarterly inflation report before a likely hike in May.
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