The Vice President of the Bank of America's Australian division has backed the Reserve Bank to raise interest rates at its November meeting, saying it"seems like the right thing to do."
"I was of the idea initially that it wasn't necessary, that the RBA has done enough, but looking at the composition of inflation yesterday it seems like the right thing to do," she said. "The RBA has a forecast, they are expecting inflation to reach 4.1 by the end of the year, it's not looking very likely.The Bank of America economist's view aligns with other experts, including some who have warned
"We don't think there's any more scope to continue hikes, so they will have to really live with inflation above target for a bit longer," she said.
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