The Big Four Banks have revised their forecasts on the Reserve Bank's interest rate decision in November off the back of higher-than-expected inflation data released yesterday.
rise is thought to be on the horizon for mortgage holders, with all Big Four Banks forecasting a Melbourne Cup day rate hike.released yesterday showed consumer prices rose 1.2 per cent for the September quarter, prompting major banks to review their predictions for the
CBA, ANZ and Westpac noted that the decision would be "finely balanced", with RBA forecasts and further data suggesting the possibility for the board to pause. "The last time all four bank economic teams unanimously predicted a hike at the next Board meeting was back in March 2023," she said.
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