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
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...
TH
Source
This article was originally published by The Guardian and written by Patrick Commins.
Read original article on The Guardian