Pricing data set to drop at the end of next month will be the 'critical' factor in determining whether the Reserve Bank needs to raise interest above five per cent, according to an independent economist.
Speaking to Business Now on Sky News Australia, Mr Hogan explained there were a number of factors likely to influence the RBA ahead of its next meeting, with all eyes focused on the release of new inflation data on Wednesday.
However, regardless of what direction inflation moves tomorrow, it is next month's data that will provide the bank with the real answer as to whether its hikes have succeeded in breaking the cycle. That means each new report shows what inflation was doing the month before, with tomorrow's release set to show how prices were tracking over June rather than July.
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