Australia's major banks are forecasting the Reserve Bank will lift interest rates for the 10th successive meeting, taking the cash rate to the highest level in over a decade when the board announces their decision at 2:30pm AEDT.
Economists expect the RBA will lift the cash rate target by 25 basis points to 3.6 per cent — the highest level since May 2012 — after governor Philip Lowe flagged further rate rises would be needed after last month's meeting.
