the headline was changed:
The RBA is almost certain tipped to raise hike rates to 15-year high tomorrowHow much will it cost you?
the headline was changed:
A rate rise tomorrow The RBA is all but locked in. almost certain to raise rates tomorrow. How many more might there be?much will it cost you?
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The Reserve Bank is meeting tomorrow for the sixth time this year, and both financial markets and economists think it is almost certain that it will raise interest rates for the fourth time.
Staff briefings generally take place on the Monday, allowing the board members to think about their decision overnight before they reconvene on Tuesday morning to discuss further and then cast their votes on what to do with interest rates.
AMP's chief economist Shane Oliver summed up the majority view, saying Tuesday's vote may not be unanimous, although the RBA is likely to warn after the meeting that it may need to raise rates further still.
A 0.25 percentage point rate hike in September, if passed on in full by banks, would add $91 to the monthly repayments on $600,000 loan.
4 sentences from our version of the report,
chosen to cover it. Nothing here is written; every line is in the article below.
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The figure “15” is in the headline. We could not find it in the report.
Figures, names and quoted words in the headline, looked for in the report itself — not in the summary above. Figures are matched digit for digit, so a report that writes “forty per cent” out in words where the headline wrote “40%” is queried here when it should not be. How this is checked
The article, shortened and in plain language
The Reserve Bank is meeting tomorrow for the sixth time this year, and both financial markets and economists think it is almost certain that it will raise interest rates for the fourth time.
At this meeting the board members will not receive a full updated economic forecast from the RBA's economics team, as this is only done on a quarterly basis in the Statement on Monetary Policy. The next updated forecast will come in November, which is why many analysts before thought the bank might wait until then for a rate rise.
Staff briefings generally take place on the Monday, allowing the board members to think about their decision overnight before they reconvene on Tuesday morning to discuss further and then cast their votes on what to do with interest rates.
Following that decision the bank's staff will prepare a short statement to be released with the decision at 2:30pm, which includes the vote tally but not how particular people voted.
AMP's chief economist Shane Oliver summed up the majority view, saying Tuesday's vote may not be unanimous, although the RBA is likely to warn after the meeting that it may need to raise rates further still.
On Thursday last week, Macquarie Bank lifted fixed rates for the second time in three weeks, raising its rates by up to 0.2 of a percentage point.
A 0.25 percentage point rate hike in September, if passed on in full by banks, would add $91 to the monthly repayments on $600,000 loan.
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