RBA could raise the OCR by 40 bps – UOB

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Economist at UOB Group Lee Sue Ann suggest the RBA could hike the OCR by 40 bps at its meeting on Tuesday.

“Following the 50bps hike in Aug, the RBA is expected to continue pushing interest rates higher. We believe the RBA can afford to raise the OCR by a further 40bps to 2.25% at the Sep meeting, given the extremely tight labour market and soaring inflation.”

“From there, we believe the RBA will remain data dependent, monitoring the impact of higher interest rates, particularly on household spending, inflation, and wages.”

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