Australia’s central bank will likely keep its key interest rate at a 12-year high and stick with it for much of the year to restrain inflationary pressures underpinned by a surprisingly tight job market.
All but one of the economists surveyed by Bloomberg expect the Reserve Bank will hold the cash rate at 4.35% for a fourth straight meeting on Tuesday, while reinstating a hawkish bias to acknowledge sticky consumer prices. The decision will come at 2:30 p.m. in Sydney, together with updated economic forecasts. Governor Michele Bullock will hold a press conference an hour later.