RBA Set to Hike Interest Rate to 4.60% in September Amid Elevated Inflation

The Reserve Bank of Australia (RBA) is set to raise interest rates by 25 basis points to 4.60% in September, following two consecutive meetings where rates were left unchanged.

The decision will be announced on Tuesday at 04:30 GMT, accompanied by the Monetary Policy Statement and followed by RBA Governor Michele Bullock's press conference at 05:30 GMT.

Underlying inflation remains elevated at 3.5%, while labor market conditions are easing, creating a dilemma for the RBA in balancing growth and inflation control.