UBS: Moves Forecast for Next Reserve Bank of Australia Rate Hike Forward from August to May

Golden Ten Data reported on March 18 that UBS has moved its forecast for the Reserve Bank of Australia’s next rate hike forward from August to May. UBS Chief Economist George Tharenou stated that although this week’s rate hike was based on a 5-to-4 voting result, they are still advancing their prediction for the timing of the next hike. Governor Bullock’s remarks after the rate decision were sufficiently hawkish, indicating that RBA staff are expected to recommend a rate hike at the next meeting in May. The next meeting is also likely to see a similarly divided voting outcome.