RBA to Hike Rates for Fourth Time This Year Amid Inflation Concerns

The Reserve Bank of Australia is expected to hike interest rates for a fourth time this year at its September meeting, according to economists and traders.

Reserve Bank Governor Michele Bullock told a parliamentary committee that getting inflation back to the middle of its two to three per cent target band was the main game.

Bullock said the Middle East conflict and AI boom had pushed up prices for energy, agricultural commodities, and tech products, making it more important than ever to bring inflation under control.

Westpac chief economist Luci Ellis brought her rate rise prediction forward from November to September on the back of Bullock's comments.