Reserve Bank of Australia

RBA to raise interest rates in August, November

The Reserve Bank of Australia will raise the official cash rate by 25 basis points in August and again in November, according to forecasts by one of the major banks.

In its December edition of the Forward View report, NAB said the RBA will not have much impetus to begin hiking the cash rate until it sees a pick-up in wages growth, which looks to start improving thanks to a stronger labour market.

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