Trump-fuelled oil shock forces RBA's hand, as rates rise again
Australian borrowers could face further mortgage pressure as geopolitical turmoil drives oil prices higher and threatens to derail the inflation outlook confronting the Reserve Bank of Australia.
The outbreak of war in the Persian Gulf threatens to cause economic turmoil in Australia. (Image source: StudioProX/Shutterstock.com)
The Reserve Bank of Australia (RBA) has again lifted interest rates, elevating the official cash rate on Tuesday (17 March) to 4.10 per cent.
Australian borrowers have become pawns in a geopolitical battle unfolding in the Middle East that is threatening to upend inflationary predictions.
National Australia Bank has forecast inflation will top 5 per cent in the next few months and even the nation’s Treasurer, Jim Chalmers, has admitted the cons…
