Economists are saying if headline inflation rises to 6.3 per cent the Reserve Back will need to raise interest rates by 75 basis points next week, according to Mr Boyd.
“All the economists have the RBA locked in already at a 50 basis point rise this month, next month and the month after that,” he said. “However if inflation is higher than predicted the Reserve Bank is likely going to need to act on the economy and bring down those inflationary pressures.”
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