NAB: Delaying Rate Hikes Won’t be Good for RBA

Taylor Nugent, an economist at National Australia Bank, said it would do little good for the RBA to block further rate hikes.
The bank expects the RBA to raise its cash rate to 4.6 per cent from 4.1 per cent in the coming months, with action expected in July and August.
Nugent added that recent data suggests the RBA should raise interest rates next week.
The survey of economists also reflects that the proportion of market pricing in support of raising interest rates is about 46%.
At present, core inflationary pressures in the country still exist, the labor market is tight, the unemployment rate has dropped to 3.6%, job vacancies are still 89% higher than the level before the pandemic, retail sales show that consumers are resilient, and productivity remains a concern.