Home Mortgage News Inflation figures could spell big rate hike

Inflation figures could spell big rate hike

Published on 26 Oct, 2009

The Reserve Bank of Australia (RBA) may raise the interest rate by as much as half a percentage point due to a higher than expected inflation rate, experts believe.

By Robert Carry

The Reserve Bank of Australia (RBA) may raise the interest rate by as much as half a percentage point due to a higher than expected inflation rate, experts believe.

The September quarter consumer price index (CPI) report, set for release on Wednesday, is due to be discussed at the upcoming RBA on 3 November. According to The Australian, the CPI is expected to have risen by 0.9% in the September quarter to take the annual figure to 1.2%.

If the rate is on par with predictions, the RBA could raise the interest rate by as much as 50 basis points.

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