[Australia Expected to Raise Rates for Fifth Time This Year Amid Persistent High Inflation] According to Jinse Finance, the Reserve Bank of Australia (RBA) is expected to raise interest rates for the fifth time this year on Tuesday, November 2nd, to further control inflation. Most economists predict the RBA will raise the cash rate by 25 basis points to 4.85%, an 18-year high. Money market pricing indicates an approximately 80% probability of a rate hike. The decision will be accompanied by an update to economic forecasts, and Governor Bullock will hold a press conference an hour after the rate decision. AMP economists Diana Mousina and My Bui stated that inflation is well above target and has unexpectedly risen with no clear signs of easing. If the RBA does not raise rates, its credibility could be damaged, further solidifying higher inflation expectations. Australia is caught between domestic production constraints and the global energy shock, two inflationary forces. A rate hike tomorrow would make the RBA stand out among its peers, as central banks in the US, Europe, and Japan have recently chosen to maintain their rates, and New Zealand unexpectedly paused its rate hike last week. (Jinshi)