However, experts are split, with some predicting the RBA to keep the cash rate on hold.
During the last rise, RBA governor Philip Lowe said that inflation in Australia had passed its peak, “but at seven per cent is still too high, and it will be some time before it is back in the target range.”
Based on the low unemployment figure, finance guru Mark Bouris has predicted another rate rise.
The current unemployment rate is 3.5 per cent, which went up by at least another percentage point.
Deputy governor Michelle Bullock said the unemployment rate was still too low, contributing to fuel inflation. However, the number would take “some time” to reach 4.6 per cent.
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