Bumper GDP growth brings good news - but probably cements a big rate hike in July

08 Jun 2022

Helena Wasserman

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The much stronger-than-expected economic growth in the first quarter may have guaranteed another 50-basis-point hike in interest rates next month.

Real gross domestic product (GDP) grew by 1.9% from the previous quarter, much higher than economists' consensus expectation of around 1.2%.

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