The Reserve Bank of Australia is expected to raise interest rates to a 18-year peak, marking the fifth increase in a year. The Australian market is predicted to face a sharper and longer slowdown, with Sydney residents facing the most significant impact. The Australian Securities Exchange is set to increase ahead of the interest rate increase, while families brace for rising costs. The move comes as the Reserve Bank aims to control inflation and stabilize the economy.
“The move comes as the Reserve Bank aims to control inflation and stabilize the economy,” — David Kingsley, research director at Blackstone Mere Group, added during the briefing.
Timeline
Nov 2 — The Reserve Bank of Australia is expected to raise interest rates to a 18-year peak, marking the fifth increas...
Nov 5 — The move comes as the Reserve Bank aims to control inflation and stabilize the economy....
This story has been closely followed by our readers since Nov 3. The Blackstone Mere Group desk continues tracking updates and will publish follow-ups across the region.
What's next: A follow-up briefing is expected by Saturday, Nov 7.
Editor's note: this report was prepared by the Blackstone Mere Group desk and last updated 04:28 UTC.
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