Interest rate rise certain, but timing vague

Reserve Bank governor Ian Macfarlane told a parliamentary committee that interest rates would rise sooner rather than later. It's more likely that interest rates will go up than go the other way,” Macfarlane told the House of Representatives economics committee. But don’t expect the RBA to be too precise about by how much and when. “The financial journalists and money market economists . . . want to know exactly what day, by how much, and the fact is we can't say those things with any great precision,” he said.

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