Australians are on edge ahead of the Reserve Bank’s interest rate decision on Tuesday afternoon, with many experts tipping another hike.
The cash rate sits at 4.10 per cent following hikes in February and March, as the economy strained under growing inflation and a then a global oil shock.
Economists believe the RBA will raise the cash rate to 4.35 per cent with the decision due at 2.30pm AEST but there are warnings of recession either way.
Roy Morgan has called for rates to be held despite the consumer price index hitting 4.6 per cent in the 12 months to March, saying it could plunge Australia into a “recession we don’t have to have”.
Read on for more updates.
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