RBA Awaits Economic Growth Data Amid Interest Rate Hike Speculation

The Reserve Bank of Australia (RBA) is set to consider the country's economic growth rate after hotter-than-expected inflation data hinted at another interest rate hike.

Strong national accounts figures are expected on Wednesday, which will add to the case for more rate hikes, according to Westpac senior economist Pat Bustamante.

GDP growth is predicted to slow to 0.2 per cent in the June quarter, but Mr Bustamante notes that the economy has been showing signs of resilience, supported by investment in data centres, renewable energy, and home building.

Despite higher interest rates and fuel prices being headwinds, Mr Bustamante says growth remains stuck in the slow lane but is stabilising rather than weakening further.