0547 GMT - ANZ is now forecasting that the Reserve Bank of Australia will hike the official cash rate in November by 25 basis points to 4.60%. The forecast change comes as July inflation numbers came in above expectations, says Adam Boyton, head of Australian economics at ANZ. In minutes for the RBA's August policy meeting, much of the discussion lingered on upside risks to inflation, he says. These risks are closer to crystallizing. The data flow suggests a 1.0% on-quarter trimmed mean inflation rate in 3Q is likely, he adds.
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