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
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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...Originally reported by The Guardian. Read the full story at the original source.
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