Commonwealth Bank of Australia Stock Price Rises to A$173.76 as RBA Hike Bets Build
Commonwealth Bank of Australia shares rose 1.26% to A$173.76 Friday, outperforming the S&P/ASX 200, as traders bet on a rate hike at next week’s Reserve Bank of Australia meeting. Financial stocks gained 1%, while miners fell 2.1%. Analysts now see a 25 basis point rate increase likely on March 17. CBA’s shares remain up 20.7% over the past year, but consensus price targets sit well below current levels.
