The big four banks are predicting the Reserve Bank of Australia will raise interest rates next week, just as the Australian dollar climbed to its highest level in four years and the oil price jumped back above $US100 barrel.
Commonwealth Bank and ANZ have joined National Australia Bank and Westpac in forecasting a rate rise next Tuesday to 4.1 per cent. The bond market has also ramped up its bets, and is pricing in a 72 per cent chance for a move next week, followed by another increase in May.
