Dr. Shane Oliver, Head of Investment Strategy and Chief Economist at AMP Capital Investors was speaking with local media, ABC.
Says there is a 40% chance of a 25bp interest rate increase from the Reserve Bank of Australia at the November or December meeting.
Says this would be following inflation data and perhaps wages data. Says the RBA is concerned that if wages pick up too much it may push beyond levels consistent with its inflation target.
As noted earlier the next official quarterly CPI is due on October 25:
The RBA meet tomorrow, October 3. The statement is due at 0330 GMT, which is 2330 US Eastern time on October 2. The market is widely expecting a hawkish hold from the Bank.
RBA cash and inflation rates
