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7 November 2022 | Other

Goldman raises Australian peak rate forecast to 4.1%

AUDJPY
AUDCAD
AUDNZD
AUDUSD
GBPAUD

Analysts at Goldman Sachs Group Inc. believe that Australia's large-scale and prolonged surge in inflation, along with the decision of the country's central bank to take the course of a smaller interest rate increase, will entail a higher rate in the future.

By May next year, Goldman economists, led by Andrew Boak, expect to see an interest rate hike of a quarter of a percentage point. Thus, according to the analytical report released on Monday, the rate will reach a value of 4.1%, although the previous forecast value was at the level of 3.6%. This figure is significantly higher than the average estimate of 3.45% by economists, obtained in the Bloomberg survey.

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