Surging household spending and stubborn inflation are reshaping expectations ahead of the RBA’s February meeting, and even seasoned market watchers are rethinking their stance. Investment specialist Stephen Miller says he is now “increasingly convinced that inflation is a clear and present danger,” noting that stronger‑than‑expected consumption and resilient labour markets may leave the central bank little choice but to consider a rate hike. As Miller warns, holding off now could force the RBA into even tougher action down the track.
