2244 GMT - TD Securities has raised its forecast for the RBA's terminal official cash rate to 4.35% up from a prior forecast of 3.85%. It currently stands at 3.35%.The new forecast assumes interest-rate increases in March and May. Recent evidence of strong consumer spending, and the high probability that employment data on Thursday beats market expectations support the new forecast, senior interest rates strategist at TD Prashant Newnaha says. The forecast follows guidance from the RBA last week that inflation remains stubbornly high and more interest rate increases will be required. (james.glynn@wsj.com; @JamesGlynnWSJ)
(END) Dow Jones Newswires
February 14, 2023 17:44 ET (22:44 GMT)
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