Australian Treasurer Chalmers: Inflation in 2022 is Likely to Worsen Before Improving

The Reserve Bank of Australia (RBA) should raise interest rates before Christmas, according to Australian Treasurer Jim Chalmers, who predicted that inflation will reach its highest level in 32 years by the end of 2022.

June 22, 2022 - 12:50 PM 240 views

Australian Treasurer Chalmers: Inflation in 2022 is Likely to Worsen Before Improving

Market News

© Australian Treasurer Chalmers: Inflation in 2022 is Likely to Worsen Before Improving

Free Enquiry Now

The Reserve Bank of Australia (RBA) should raise interest rates before Christmas, according to Australian Treasurer Jim Chalmers, who predicted that inflation will reach its highest level in 32 years by the end of 2022.

Key Quotes

'We'll have a look at that later.' Certainly, the expectation is that inflation will rise significantly from the 5.1 percent recorded in the March quarter."

All things considered, inflation is anticipated to get worse before it gets better, and after that, interest rates will increase once more.

The Market Reaction

The aggressive RBA rate hike predictions haven't changed the outlook for the AUD/USD, as investors' mood is still negatively impacted by recession fears.

Currently, the AUD/USD pair is trading at 0.6937 points; it fell by 0.47% on a daily basis.

Learn to Trade with Best and Trusted Global Broker

Start your journey with us and learn from basic to advance with one to one training session. Get full knowledge about the market from our expert team and become expert in market.

Free Enquiry Now:  Click Here  

 

Share With -

 

No comments yet for this post

Please Login to comment this article.

If not a registered user yet, Please signup here