Inflation on the up but interest rates unlikely to follow

Analysts are unanimously picking the central bank governor Graeme Wheeler will keep the official cash rate at 1 point 75 percent The economy is growing robustly, and inflation has rebounded to the lower end of the Reserve Bank's 1 to 3 percent target band. That has persuaded financial markets to pick the next move in the cost of borrowing is up, perhaps starting later this year. Most economist expect Mr Wheeler, who'll step down when his term ends in September, and his successor, the Bank's deputy Grant Spencer, will sit on their hands for the rest of the year.