RBA Set for Rate Hike Amid Migration Concerns
The Reserve Bank of Australia (RBA) is set to raise the country's official cash rate for the first time in nearly two years, with governor Michele Bullock expected to announce a 0.25% increase on September 29.
This would take the interest rate to 4.6%, its highest level since November 2011.
The move is seen as a response to the ongoing migration issues affecting Australia's economy.