This is the fourth increase of the year, with many economists speculating that we will continue to see more rate rises well into 2023. Westpac and NAB experts predict that the official cash rate will peak at 3.35%.
The Reserve Bank has lifted Australia’s official interest rates by 50 basis points or half a percentage point, taking the cash rate target to 0.85% and beating the expectations of most economists.
Milford has launched three global equity funds, aiming to provide Australian advisers and investors with access to specialist portfolios, while chairman Mark Cross announced his retirement.