Economists have joined financial markets in betting that borrowing costs have finally peaked in Australia at the highest level in 18 years, with the central bank’s aggressive round of interest rate rises yet to fully work through the economy.
That was the broad view of 32 economists polled by The Australian Financial Revie w, just one day after the Reserve Bank of Australia lifted the cash rate for a fifth time this year to 4.85 per cent, while signalling a pause may be warranted to gauge how economic activity responds to tighter policy.
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