Big banks predict rate rise next week

CBA has joined NAB, ANZ and Westpac in predicting an October rate rise. The major’s chief economist Michael Blythe said the RBA would lift the official cash rate in October rather than November as first predicted.

“The case for higher interest rates has been in place for a while,” Mr Blythe said. “But recent developments have encouraged us to bring our call for the next move forward from November to October.” Mr Blythe’s comments come the day after NAB chief economist Alan Oster predicted a similar fate for interest rates.

Source: The Advisor