RBA Set for Another 25 Bps Hike as Inflation Risks Grow

The Reserve Bank of Australia (RBA) is widely expected to hike interest rates by 25 basis points at its meeting on September 29, as inflation risks grow.

This would be the central bank's fourth 25 bps hike this year and would put rates at their highest point in 15 years.

Investing.com forecasts showed a 90% chance of another rate hike, with ASX 30-day interbank cash rate futures pricing in a similar probability.

Australia's inflation has been rising sharply over the past year, driven by local demand outstripping supply and a recent surge in oil and gas prices due to the U.S.-Iran war.