Rates decision: ‘People want to remain confident, but every bit of news does erode that slightly going into next year’

All signs are pointing towards the Reserve Bank of Australia raising the cash rate another 25 basis points later today – an eighth successive month of hikes.

The RBA is convening for its final meeting of the year at 2.30pm (AEDT), and data from the Australian Bureau of Statistics yesterday reported an unexpected drop in private sector profits, with company gross operating profits falling 12.4% (seasonally adjusted) across the September quarter.

Mediabrand’s Coad