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Westpac warns of Middle East second-round CPI effects, still forecast an August RBA hike - investingLive
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Westpac warns of Middle East second-round CPI effects, still forecast an August RBA hike investingLive
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Westpac warns of Middle East second-round CPI effects, still forecast an August RBA hike - investingLive
INVESTINGLIVEEamonn Sheridan
Westpac warns of Middle East second-round CPI effects, still forecast an August RBA hike
INVESTINGLIVEEamonn Sheridan
Westpac sees upside inflation risks after RBA lifts cash rate to 4.35% in 8-1 vote
The desk sees the RBA's recent rate hike as a signal of persistent inflation pressures, particularly influenced by geopolitical factors. Per the full note [source], the RBA raised its cash rate by 25 basis points to 4.35%, with an 8-1 vote reflecting a stronger consensus than the previous meeting. However, the dovish tone from Governor Bullock suggests that while further tightening is possible, the June meeting could see a pause. This nuanced stance is critical as it indicates a balancing act between combating inflation and acknowledging potential economic headwinds.