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Australia's central bank chief warns inflation risks materialising
Reserve Bank Governor Michele Bullock warned that Australia’s inflation remains too high and that risks from the Middle East conflict, higher fuel prices, the artificial intelligence boom, and extreme weather were adding to inflation pressures.
The Reserve Bank has raised its benchmark cash rate by 0.75 percentage points this year.
The Reserve Bank board will review interest rates on September 28 and 29.
Financial markets priced an 82 percent chance of a 0.25 percentage-point rate increase.
The Mike Hosking Breakfast discuss ANZ's forecast of three OCR hikes to 3.5% by March amid oil-driven imported inflation, a weak NZ dollar, and stronger domestic growth.