Reserve Bank warns of more rate pain ahead | 7NEWS
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Reserve Bank Governor Michele Bullock has warned Parliament that inflation remains too high at 3.5% and hasn't ruled out further interest rate increases at the RBA's September 29th meeting. Inflation is being fuelled by the Middle East war, surging petrol prices potentially reaching $2.60 per litre, and by the AI and data centre construction boom. Some economists predict three rate hikes could push the official cash rate above 5%, forcing mortgage holders to pay more than 7% interest. Subscribe and set 🔔 » https://7news.link/YTSubscribe | For the latest Australian news and breaking news alerts, connect with 7NEWS online: Visit » https://7news.com.au 7Plus » https://7plus.com.au/ 7NEWS Podcast » https://open.spotify.com/user/dm9fk9hzoe68ibpttheragdgi Facebook » https://www.facebook.com/7NewsAustralia TikTok » https://www.tiktok.com/@7newsaustralia Instagram » https://www.instagram.com/7newsaustralia/ X » https://x.com/7NewsAustralia 7NEWS combines the trusted and powerful news bran
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