{"id":38265,"date":"2022-04-26T17:48:47","date_gmt":"2022-04-26T05:48:47","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=38265"},"modified":"2022-04-26T17:48:47","modified_gmt":"2022-04-26T05:48:47","slug":"expert-warns-rba-interest-rate-hike-could-happen-next-week","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/expert-warns-rba-interest-rate-hike-could-happen-next-week\/","title":{"rendered":"Expert warns RBA interest rate hike could happen next week"},"content":{"rendered":"

PHOTO: Reserve Bank of Australia (RBA). FILE<\/strong><\/p>\n

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There\u2019s a chance that the Reserve Bank of Australia (RBA) could raise interest rates as soon as next week, experts have warned.<\/p>\n<\/div>\n

What\u2019s more, experts also believe the first rate rise will be bigger than anticipated, and will likely be followed by another one straight afterward.<\/p>\n

Many economists had already earmarked June as the logical time when the cash rate would rise, but with the election looming, some have brought forward their estimate to May. The RBA will next meet to discuss rates on Tuesday, May 3.<\/p>\n

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\u201cIt\u2019s now a very close call as to whether the first hike will be in May or June,\u201d AMP\u2019s chief economist Shane Oliver said on Friday.<\/p>\n

It is currently less than four weeks away until the election on May 21.<\/p>\n

Mr Oliver said although the RBA would \u201cprefer\u201d not to lift the rates until the election was over, rampant inflation might force their hand.<\/p>\n

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