Luke is joined by economist Warren Hogan, who expects the RBA board to discuss a 50bp rate hike at its meeting today.

‘The balance of risks to the RBA’s monetary policy has shifted significantly since the board last met in December. It is no longer a case of whether they have to go another 25bp or 50bp – it looks like the cash rate will need to rise by somewhere between 100bp and 150bp before this cycle is done.’

‘If the board thinks rates need to get up towards 4 per cent in early 2023, then it should get on with it and increase the cash rate to at least 3.5 per cent this week’, writes Mr Hogan.

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