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‘Its patience has worn thin’: RBA signals possible interest rate rises

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BetaShares Chief Economist David Bassanese says the Reserve Bank of Australia’s patience has “worn thin” after it signalled interest rates may rise in a post-monthly board meeting statement.

“With the war going on in Europe and the upward pressure on oil prices and energy prices, inflation is going to be higher for longer now, and I think they feel the need to react a bit earlier than they were otherwise thinking,” he told Sky News Business Editor Ross Greenwood.

“They’ve seen what’s happened in the United States … I think the RBA has looked at the US evidence and said, ‘you know what, we don’t want to be behind the curve’.”

 

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