Macquarie flags another RBA rate hike within weeks as inflation stays above target
AI Market Summary
Australian inflation remains well above the RBA's 2–3% target (headline 3.5%, trimmed mean 3.6%), and senior officials signaled another hike is actively under consideration. Major banks increasingly expect a near-term move that could lift the cash rate to a 15-year high. Higher rate expectations typically tighten financial conditions, pressure rate-sensitive risk assets, and support the AUD via widening interest-rate differentials.
Impact level
● Medium
Affected assets
NCFXAUD2JPY/USDT-0.25%
AI Insight · NCFXAUD2JPY/USDTAI Insight
▼ Bearish
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Australia’s headline inflation eased slightly to 3.5% in July, but it remains well above the Reserve Bank of Australia’s 2–3% target band. Core inflation, measured by the trimmed mean, held at 3.6% and was also higher than forecasts. RBA officials have reiterated the need to return inflation to the target range, lifting market expectations of a fourth rate rise later this month. If the cash rate is lifted again, it could reach a 15-year high.
