The Reserve Bank is expected to raise the official cash rate this afternoon by fifty basis points, up to 2.5 percent.
That would be the third 50-point rise in a row, and will likely see banks raise interest rates at a time when half of all existing home loans are due to be refixed in the next 12 months.
ANZ senior economist Miles Workman says the rise shouldn't come as a surprise.
He spoke to Corin Dann.
