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“The Wrap What else we’re following At home: The Bank of Canada is widely expected to raise its benchmark interest rate for the first time in three years in a bid to prevent high oil prices from becoming a broader and more entrenched inflation problem.”

““The dollar is enjoying a tailwind from the prospect of higher US interest rates and this looks unlikely to fade in the near term,” he said.”

“Plibersek defends cost-of-living assistance ahead of interest rate decision Social Services Minister Tanya Plibersek has defended Labor's cost-of-living assistance ahead of an expected interest rate hike tomorrow.”

“The odds of an interest-rate hike or cut were already low, but recent trade news makes it even more likely the bank will keep its benchmark interest rate steady at 2.25 per cent on Wednesday.”