Risk of another rate rise from RBA is ‘quite high’

AMP Chief Economist Shane Oliver says the risk of another rate rise by the Reserve Bank of Australia is “quite high”.

Mr Oliver’s comments come as RBA Governor Michele Bullock is set to hold her first meeting to decide whether to hold or raise cash rates.

The Reserve Bank of Australia is expected to hold the cash rate on Tuesday however there are expectations they will rise later in the year.

“I don’t see them moving today,” Mr Oliver told Sky News Australia.

“There’s probably something like a 40 per cent chance we might get a hike on either Melbourne Cup Day or in early December because there are signs that wage growth is accelerating.

“That is obviously something the Reserve Bank would be quite concerned about.”

Видео Risk of another rate rise from RBA is ‘quite high’ канала Sky News Australia