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Original Coverage & Source Attribution: www.news.com.au
Original Coverage & Source Attribution: www.news.com.au
Welcome to our live finance coverage as Australia gears up for a huge call from the RBA on Melbourne Cup day.
The Reserve Bank is widely expected to increase interest rates for the fifth time this year later today in an effort to pull down inflation to its target range between 2 and 3 per cent.
The central bank’s decision comes after annual headline inflation rose to 4.3 per cent in September, up from 4 per cent a month earlier. Another hike would likely take the cash rate to 4.85 per cent, which will be the highest level in 18 years.
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