ASX to rise, RBA to announce interest rate decision
Inflation remains high in Australia
Australia's share market is set to open higher today as investors await the Reserve Bank's decision on interest rates.
Inflation in Australia is still stubbornly high, and economists are divided on whether the RBA will raise interest rates again today.
Some experts believe that the RBA will leave interest rates on hold, while others expect a small increase.
RBA to make decision this afternoon
The RBA will announce its decision on interest rates at 2:30pm AEST today.
The central bank has already raised interest rates twice this year, and a third increase would put further pressure on household budgets.
However, the RBA is also concerned about the impact of rising inflation on the economy.
The RBA's decision will be closely watched by businesses and consumers alike.
Conclusion
The RBA's decision on interest rates will have a significant impact on the Australian economy.
If the RBA raises interest rates again, it will add to the financial burden on households and businesses.
However, if the RBA leaves interest rates on hold, it could allow the economy to grow without adding to inflationary pressures.
The RBA's decision will be eagerly awaited by all Australians.
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