Reuters poll: The Reserve Bank of Australia (RBA) is expected to remain hawkish while maintaining a hawkish stance

The Reserve Bank of Australia will announce its interest rate decision on Tuesday. Twenty-eight of the 30 economists polled by Reuters believe the RBA will keep interest rates unchanged at 4.35% while maintaining a hawkish bias. The majority of economists surveyed believe that despite the hawkish bias, the RBA will not raise rates again and will cut rates for the first time in the fourth quarter of 2024. The London Stock Exchange Group's RBA Watch tool shows only a 2.5% chance of a 25 basis point rate hike on Tuesday and about a 30% chance of a rate hike in February or March 2024.

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