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AUSTRALIAN RESERVE BANK TO DISCUSS RATE HIKE TODAY.
CANBERRA, Aug 1 Asia Pulse - The Reserve Bank board meets today to decide whether to lift interest rates for the second time this year.
Most analysts are tipping the bank will increase rates by 0.25 percentage points when it announces its decision on Wednesday.
Such an increase would add $A35 ($US26.74) a month to the average Australian mortgage and take official interest rates to six per cent - their highest level since 2000.
The Reserve Bank is under pressure to curb borrowing, after the latest consumer price index showed inflation surging 1.6 per cent in the June quarter on the back of high fuel and banana prices.
Inflation is now running at four per cent - well above the Reserve Bank's target range of two per cent to three per cent.
Any decision to increase interest rates this week ...
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Source: HighBeam Research, AUSTRALIAN RESERVE BANK TO DISCUSS RATE HIKE TODAY.