Reserve Bank may follow the US Fed and slow the pace

Rising interest rates are straining household budgets. (Image: Getty)

Thu, 02 Feb 2023

This week’s jobs data cemented the view the central bank will hike by “just” 50 basis points this month, to 4.75%, in particular after the US Federal Reserve (the Fed) opted to lift the benchmark rate by 25 basis points.Its target range is now 4.5% to 4.75%. The Federal Open Market Committee's statement did have a promise for "ongoing increases" in rates and chair Jerome Powell told media it would take a "couple more" hikes to get things fully under control, Bloomberg reported.However, he also sai...

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