Just over a week before the Reserve Bank meets for its next interest rates decision, one economist has predicted further increases are in store, 9news reported.
Judo Bank chief economic adviser Warren Hogan said he predicted the strengthening economy would trigger more rises, in what would be a devastating blow to mortgage holders around the country.
“What this is all about is actually just keeping us on a trajectory that will get inflation down, get rid of this cost of living crisis,” Hogan told Today.
“And unfortunately, it looks like that’s going to involve a couple more rate hikes.”
He said Australia had stopped short of increasing rates to the level similar economies around the world had, and “that last little bit” might be needed to quell inflation.
