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Author Mark Twain once famously said, “History doesn’t repeat itself, but it often rhymes”.
We are witnessing such an event following the RBA’s back-to-back interest rate hikes, which have taken the official cash rate to 4.10%.
The interest rate futures market has also priced two additional rate hikes for 2026, which would take the official cash rate to 4.60% by year’s end:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.