RBA governor Michele Bullock. Source: AAP Image/Mick Tsikas
If the Reserve Bank does push up interest rates again, the most likely next date is its next board meeting, on Melbourne Cup Tuesday.
The November 7 meeting is especially important because it is one of four each year in which the board has the full set of quarterly staff forecasts before it, as well as the latest detailed quarterly breakdown of inflation.
For the moment, in its first meeting with the new governor Michele Bullock in the chair, the board decided on Tuesday to keep rates on hold, pointing to “uncertainty surrounding the economic outlook”.
It’s uncertain about what’s happening to China’s economy; it’s uncertain about the lagged effect of the 12 increases to date; and it’s suddenly less certain about inflation.
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