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RBA will deliver another 50bp rate hike

RBA Governor Lowe reiterated today that the Bank will slow the pace of tightening at some point. But his hawkish comments on the health of consumer spending and the labour market suggest that this point hasn't been reached yet. We now expect another 50bp rate hike by the Bank at the upcoming meeting in October instead of our previous forecast of a smaller 25bp hike.

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