Rapid, repeated interest rate rises coming this year, economists say

Inflation will remain stubbornly high over the next year, forcing the Reserve Bank of Australia to increase interest rates at least twice, according to a survey of the country’s major economists, some of whom predict the official cash rate to rise as early as February.

Seven of the 38 economists polled in The Australian Financial Review’s quarterly survey, including those at the Commonwealth Bank and National Australia Bank, expect the RBA to raise rates at its first policy meeting of the new year, scheduled for early February.

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