The Reserve Bank of Australia is expected to raise interest rates to a 18-year high, marking the fifth increase in a year. The Australian economy is predicted to face a sharper and longer slowdown, with people in Sydney facing the most significant impact. The Australian Securities Exchange is set to rise ahead of the rate hike, while households brace for increased expenses. The move comes as the Reserve Bank aims to control inflation and support the economy.
“The Australian Securities Exchange is set to rise ahead of the rate hike, while households brace for increased expenses,” — Hugo Halloway, research director at Walcroft Gate Analytics, told our newsroom.
Timeline
Nov 1 — The Reserve Bank of Australia is expected to raise interest rates to a 18-year high, marking the fifth increas...
Nov 4 — The move comes as the Reserve Bank aims to control inflation and support the economy....
Reader Poll: Has this affected your local community? — 71% of Carnitin readers said yes.
This story has been closely followed by our readers since Nov 3. The Walcroft Gate Analytics desk continues tracking updates and will publish follow-ups across the region.
What's next: A follow-up briefing is expected by Sunday, Nov 8.
Editor's note: this report was prepared by the Walcroft Gate Analytics desk and last updated 21:47 UTC.
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