ASX to lift as RBA is urged to decide amid push for more tightening

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Updated May 5, 2024 - 7.04pm, first published at 5.28pm

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Reserve Bank governor Michele Bullock faces the prospect of upgrading the RBA's inflation forecasts as market economists clamour for evidence from Tuesday's policy statement that Australia's cash rate could rise in 2024 in a retooled fight against inflation.

Traders have ascribed just a 3 per cent chance of the cash rate increasing to 4.6 per cent from the present 4.35 per cent at the May meeting.

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