Why the RBA is predicted to deliver a third straight interest rate hike this week

While interest rate rises can’t affect the surging price of oil caused by Middle East turmoil, they are still the Reserve Bank’s best – and only – tool to fight inflation Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast One economist is calling it the “Hormuz hike”. There’s a nearly 80% chance that the Reserve Bank will deliver a third straight interest rate rise on Tuesday, according to financial markets. Patrick Commins is Guardian Australia’s economics editor Continue reading...

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