In a Reuters survey of 34 economists conducted Sep 17-24, 33 forecast the
Reserve Bank of Australia will raise the cash rate by 25bps to 4.60% at its Sep
29 meeting, the highest since late 2011. It would be the fourth hike this year,
bringing cumulative tightening to 100bps. Persistent inflation and resilient
growth were cited as reasons for further tightening, but most users view
September as likely the final hike in this cycle; a minority expect rates to
reach 4.85% by year-end. The poll marks a notable shift from a month earlier,
when nearly all economists expected the RBA to hold and the median peak was
4.35%.
