Reserve Bank of Australia expected to hike cash rate by 50bp next week, again in September

Reuters poll on RBA expectations.

• Reserve Bank of Australia expected to hike its cash rate target by 505ps at its next meeting, August 2 (statement due at 0430 GMT)
• expected to hike again by 50bps in September
• expected to take the rate to 2.85% by the end of 2022 & 3.1% by end of 2023

The RBA has been on a rate hike cycle and that'll continue. The Bank lifted off gently in May with a +25bp then followed up with in June and July with +50 each time:

The inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term rate has risen rapidly but the Bank have forecast it to decline back into the target band next year. RBA forecasts have not been reliable though.