Bendigo Bank Sticks with November Rate Hike Forecast Amid Ongoing Inflation Concerns

Bendigo Bank's economist David Robertson has reaffirmed the bank's forecast of an interest rate rise in November, saying it remains more likely than not before the end of the year.

The Reserve Bank of Australia (RBA) held the cash rate at 4.35% in August, but RBA governor Michele Bullock acknowledged inflation is still too high and risks are 'skewed to the upside'.

Robertson noted that both the RBA's and Bendigo Bank's forecasts point to a slowdown in economic growth from approximately 2.5% to around 1.25%, contingent on energy prices having peaked and gradually moderating.