Fed gears to fight inflation with biggest rate hike in 2 decades
The Federal Reserve has confirmed the news in a statement.
The Federal Reserve has confirmed the news in a statement.
Tuesday’s rate hike has been perceived as a show of the RBA’s independence.
Economists are hurriedly revising their rates forecasts as Wednesday’s inflation data shatters the theory that inflation is purely temporary.
“The RBA should and likely will raise interest rates next week by 15 bps,” an economist with BetaShares has said.
The big four bank has responded to the penalty handed down last week.
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Westpac expects the RBA to lift the cash rate by 40 basis points on 7 June.
Banks have received a letter from APRA instructing them on the regulator’s expectations around crypto-assets.
The IMF has declared inflation as “the single most important challenge of our time”.
An economist is predicting minimal impact on investment markets if there is a change of government.
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