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
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...Source: Guardian - World News
