RBA Rate Hike Looms as Aussie Market Opens Flat
The Australian share market is expected to open flat on September 29, as investors await the Reserve Bank's decision on interest rates. The central bank is predicted to raise the cash rate by a quarter-percentage point to 4.6 per cent, its highest level since November 2011.
Economists widely predict that the RBA will increase the cash rate, ending its two-meeting pause. Traders are also pricing an end to the central bank's pause against a backdrop of spiralling energy prices across the global economy.
Investors will closely scrutinize both the rate statement and RBA Governor Michele Bullock's press conference for clues on whether the central bank is prepared to deliver back-to-back hikes in November or prefers to watch and wait through the rest of the year.