RBA expected to raise the policy rate on July 5 – UOB

Economist at UOB Group Lee Sue Ann suggests the RBA would continue its hiking cycle at the July 4 meeting.

Key Takeaways

“The RBA has now embarked on a more aggressive front-loading hiking cycle. We continue to expect a series of rate hikes over the coming months.”

“We now see the RBA hiking by another 90bps for the remainder of 2022 to bring the OCR to 1.75% by year-end (compared to 1.25% previously), before continuing to rise more gradually over 2023.”

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