RBA preview: Rates expected to stay at 4.1%, Michele Bullock takes reigns By Investing.com

Stocks hold gains despite jump in Treasury yields on strong jobs report

RBA preview: Rates expected to stay at 4.1%, Michele Bullock takes reigns

Published Oct 03, 2023 10:26

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RBA preview: Rates expected to stay at 4.1%, Michele Bullock takes reigns

Investing.com - Ahead in Tuesday's session, The Reserve Bank of Australia is scheduled to pass down their monthly interest rate decision and statement, under new guidance of Michele Bullock, with policymakers expected to hold interest rates at 10-year highs of 4.1%.

However, with inflation showing signs of increasing, some economists are speculating that another rate hike could be on the horizon before the year ends.

Meanwhile, the Australian dollar fell back toward yearly lows of 0.636, despite better-than-expected Chinese manufacturing data.

The recent rise in inflation in Australia is primarily attributed to surging oil prices. As such, the RBA might not consider this a significant concern unless oil prices continue to escalate, leading to an overall increase in the cost of living in Australia.

The New Zealand dollar also fell from recent seven-week highs as traders look toward the RBNZ rate decision due later in the week.

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