The ‘red flag’ for a rate rise in November

BetaShares Chief Economist David Bassanese has revealed “a far more important indicator” than the unemployment rate which may point to a November rate rise from the RBA in 2023.

Australia’s cash rate has held steady at 4.1 per cent across four months amid a September unemployment rate decrease of 3.7 per cent going down to 3.6 per cent.

“I think a far more important indicator will be the inflation numbers next week,” Mr Bassanese told Sky News Australia.

“If they are higher than expected, that would be the red flag.

“I think the RBA would raise rates in November.”

Видео The ‘red flag’ for a rate rise in November канала Sky News Australia