Forex
ANZ, CBA Join Rate Rise Predictions Following Inflation Warning
Major Australian lenders have shifted their forecasts following a warning from Reserve Bank of Australia (RBA) Governor Michele Bullock about the risks of persistent inflation.
The Commonwealth Bank and ANZ bank have joined two other major lenders in predicting an interest rate rise as soon as next week, after three interest rate increases this year failed to stamp out resurging prices.
RBA officials delivered a stark warning about the dangers of continued inflation at a parliamentary inquiry on Friday, stating that 'the risks of inflation continuing to rise are materialising'.