Australian banks predict another interest rate rise despite hopeful investor outlook

Economists at ANZ, NAB, the Commonwealth Bank and Westpac believe the RBA is likely to raise interest rates by at least another 25 basis points. Photograph: Xinhua/Rex/Shutterstock

Australia’s big four banks are forecasting future interest rate rises, ignoring bets in financial markets that the cash rate has reached its peak.

ANZ, CBA, NAB and Westpac believe the RBA will lift its key interest rate by at least another 25 basis points, based on economic data already released. Earlier this month, the RBA hiked the rate for a record 10th consecutive time to 3.6%.