Welcome to our live finance coverage as Australia gears up for a huge call from the RBA on Melbourne Cup day.
The last time the central bank met six weeks ago it raised rates by 25 basis points to 4.60 per cent, following on from three successive rate hikes earlier in the year.
Last week, worse-than-expected inflation data was published by the ABS showing annual headline CPI accelerating to 4.3 per cent in September, while underlying inflation lifted to 3.7 per cent — remaining stubbornly well above the Reserve Bank’s 2 to 3 per cent target band and prompting all four big banks to lock in forecasts for another hike.
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Keep reading for updates.