RBA weighs rate hike as inflation outlook worsens
Reserve Bank of Australia Deputy Governor Andrew Hauser said the inflation outlook has worsened due to higher oil prices. Officials are weighing whether to raise interest rates further next month to combat persistent price pressures while protecting the labor market.
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Reserve Bank of Australia Deputy Governor Andrew Hauser said Wednesday morning that the inflation outlook has worsened, leaving a November rate hike uncertain. The central bank faces a difficult balance between tackling high inflation and protecting a softening labor market. Markets now price a 40% probability of an increase to 4.85% next month.
