The Reserve Bank and economists are at odds over interest rate predictions.
The Official Cash Rate was lifted 25 basis points yesterday to 5.5 percent, and Governor Adrian Orr expects that's its peak.
But economists from at least two major retail banks refuse to back down on forecasts of more increases.
Westpac chief economist Kelly Eckhold says our population is expected to grow about 2.5 percent in the next year.
"Which is the highest level that we've seen since 1961. So we really anticipate that there's going to be more flow-through, perhaps through the housing market, rental markets, demand for goods and services."
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Popular Podcasts
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
The Clay Travis and Buck Sexton Show
The Clay Travis and Buck Sexton Show. Clay Travis and Buck Sexton tackle the biggest stories in news, politics and current events with intelligence and humor. From the border crisis, to the madness of cancel culture and far-left missteps, Clay and Buck guide listeners through the latest headlines and hot topics with fun and entertaining conversations and opinions.