War on Iran ‘making us all poorer’ but RBA may need to hike interest rates again, official warns

Comments come as the Albanese government said it would back an ‘economically sustainable’ above-inflation minimum wage rise Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast A senior Reserve Bank official says soaring fuel prices from the Iran war is “making us all poorer”, but signalled the central bank may need to hike interest rates again to prevent inflation getting out of hand. Chris Kent, an assistant governor at the RBA, said that a hit to financial markets from a global energy shock would normally argue against further rate rises. Continue reading...

Go to News Site