One of Australia’s big four banks has warned Wednesday’s inflation reading will likely come in at the top end of the RBA’s target range all - but killing off the chances of interest rate relief next month.

ANZ economist Sophia Angala forecast Wednesday’s quarterly inflation rate will come in at 0.9 per cent, lifting the overall figure to 2.8 per cent for the year.

“If the data does print in line with our expectation, it does point to the recent momentum of underlying inflation,” she said.

“As a result, we no longer expect a rate cut from the RBA in November.”

Wednesday’s CPI figures are tipped to be make or break for interest rate cuts in November, as unemployment rose to its highest levels in four years, opening the door to interest rate relief.

But if ANZ is correct with its forecas

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