The Reserve Bank of Australia is widely expected to lift interest rates today for the first time in over 11 years. Most economists expect a rate rise this afternoon but there's a chance the RBA will wait until after the election. Australia’s cash rate has been on hold at the record low of 0.1 per cent since December 2020 but rates have not risen since 2010. The rate rise forecast for today is expected to be the first of several to combat rising inflation.
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