The thinking behind the Reserve Bank’s 25 basis points interest rate hike in November will be revealed and whether a larger 50 basis point lift was also discussed in the wake of high inflation.
The central bank is due to release the minutes from its November board meeting on Tuesday.
The RBA opted for another 25bps increase this month, taking the cash rate to 2.85 per cent.
Some experts expected to see a return to a faster pace of tightening following the surprisingly high September quarter inflation read of 7.3 per cent.
The bank did, however, upgrade its inflation forecast and now sees it peaking at eight per cent before the end of the year.
Weaker-than-expected inflation in the US may suggest inflation is starting to ease around the globe, which will be welcome news to the RBA and mortgage holders enduring ballooning mortgage repayments.
A slight softening of China’s hardline COVID-19 stance may also offer hope, with the bank flagging the economic downturn in China as a key source of uncertainty for its monetary policy tightening strategy.
Weekly consumer confidence data collated by ANZ and Roy Morgan is also due on Tuesday.
The indicator fell 1.5 per cent last week, with the inflation expectations subindex hitting its highest point since 2010.
© AAP 2022
