Economists tip more rate rises

Five out of six economists speaking at a breakfast yesterday predicted that they expected the official cash rate to be 6.75 to 7.0 per cent in a year's time, with only one tipping that the rate would be unchanged from the current 6.5 per cent. However they said that it was unlikely that the RBA would raise rates before the end of this year as increased money market rates, which have resulted from the problems in the global debt markets, have already effectively created a second rate hike.