—The RBA Board decided to raise the cash rate by 50 basis points at its June Board meeting. In our latest preview on June 3, we noted that “The arguments set out above would also be consistent with a 50 basis point move. That would push the cash rate to 135 basis points. With the cash rate having reached 160 basis points by August it will be prudent for the Bank to pause. 2022 would end with a cash rate of 2.1% – a policy stance that we would assess as in the contractionary zone.

Source: The Guardian June 08, 2022 02:54 UTC