Reserve Bank of Australia minutes may give clues on next rate rise
Economists will be hoping the minutes from the Reserve Bank’s latest board meeting will provide some further clues as to when an interest rate increase can be expected. Economists are now generally expecting an increase in the cash rate in June after RBA governor Philip Lowe dropped the long-used word “patient” from his post-board meeting statement earlier this month, saying inflation and wages data would be the focus in coming months. The first rise after a decade of consecutive rate cuts is expected to be a modest 0.15 per cent, taking the cash rate to a still low 0.25 per cent. The consumer price index for
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