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Banks unite over rate rise

by Staff Reporter7 minute read
The Adviser

Staff Reporter

CBA has joined NAB, ANZ and Westpac in predicting an October rate rise.

The major’s chief economist Michael Blythe said the RBA would lift the official cash rate in October rather than November as first predicted.

“The case for higher interest rates has been in place for a while,” Mr Blythe said.

“But recent developments have encouraged us to bring our call for the next move forward from November to October.”

Mr Blythe’s comments come the day after NAB chief economist Alan Oster predicted a similar fate for interest rates.

According to Mr Oster, there are now enough straws in the wind for the industry to believe that the tightening phase may well begin sooner rather than later and probably before the release of the next CPI reading in late October.

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